Top Tehachapi, CA Short Sale Lawyers Near You
4900 California Avenue, Tower B, 2nd Floor, Bakersfield, CA 93309
5060 California Avenue, Bakersfield, CA 93309
1430 Truxtun Avenue, Suite 900, Bakersfield, CA 93301
5060 California Ave, 7th Floor, PO Box 2026, Bakersfield, CA 93303
10000 Stockdale Hwy, Suite 200, Bakersfield, CA 93311
218 H St, Bakersfield, CA 93304
2225 E St, Suite 200, Bakersfield, CA 93301-2807
PO Box 25, 3rd Floor, Kernville, CA 93238
5001 E Commercecenter Dr, Ste 250, Bakersfield, CA 93309
Tehachapi Short Sale Information
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What Does Contingent Mean in Real Estate?
In a real estate transaction like the sale of a house, a “contingency” clause in the contract acts as a way to cancel the contract if a certain event were to happen. For instance, if you make an offer and the seller accepts it, you may negotiate a contingency that accounts for a poor housing inspection allowing you to back out of the deal. If you need to sell your home as well, you could negotiate a contingency that allows you to back out of buying the new home if you can’t sell your current one.
What Is a Short Sale?
A short sale is when the seller is selling the property for less than is owed on the mortgage. This could be a bank that repossessed the home in a foreclosure. In this case, the bank would sell the house, essentially hoping to get someone to buy the house, and the bank will forgive the difference that remains on the original mortgage. A short sale often presents a good opportunity to the right buyer who needs to save a bit of money.
Do I Need a Real Estate Lawyer or a Real Estate Broker?
A broker (also known as an agent or realtor) represents people in the home buying or selling process. But they may not be as experienced when it comes to contract negotiations as a real estate lawyer. While you may not need a real estate lawyer for your home sale, they can help you deal with any unexpected roadblocks to the sale process. Some states also require a real estate attorney for any contract signings. If you are unsure, you could schedule a consultation.