More than a third of the homes on the market now are short sales. If you are one of these sellers that face this reality of selling your home for less than the amount owed on your mortgage, make sure that you disclose this fact to your realtor. Failing to do so could give you an even bigger problem with a buyer who enters into contract only to find out further into the transaction that you are without enough funds to complete the transaction. This buyer will likely sue you for their damages suffered in reliance on the contract representations.
If you are a realtor, it makes sense to ask the appropriate questions concerning the amount of debt that needs to be paid off on the property, including mortgage balance, taxes,water bills,tax liens, etc. If you fail to ask these questions and proceed to list the property without disclosing on the listing “subject to the approval of the present lender”, you will most likely be added as a party to the buyer’s lawsuit. The allegation against you will be that you were negligent in your responsibilities as the realtor by not inquiring and not disclosing the seller’s financial situation. Read More
"My name is Emilio. When I was buying my property, I hired Mr William J Reinhardt Jr as my Real Estate Attorney, it was one of the best decision I ever made because he did everything in his power to make sure my purchase was successful. For example, The utilities bills left over by the person who owned the property before me. I said thank you to Bill for not allow me to pay these costly bills." - 5.0 stars | Posted by Emilio Bien Aime | October 1, 2019
"Mr. William Reinhardt Jr. is my lawyer for many years. My family and I bought and sold properties with his help and were very satisfied. I recommend Mr. Reinhardt to anyone. I give him a 5-star review." - 5.0 stars | Posted by Diana | September 19, 2019
"My husband and I loved working with William. He was very professional, efficient and went above and beyond to help us. We would HIGHLY recommend." - 5.0 stars | Posted by Leeann | September 13, 2019