Top Staunton, IL Short Sale Lawyers Near You
101 West Vandalia St, Suite 220, Edwardsville, IL 62025
101 W. Vandalia, Suite 240-I, Edwardsville, IL 62025
115 N. Second Street, Edwardsville, IL 62025
101 W. Vandalia St, 3rd Floor, Edwardsville, IL 62025
821 W Hwy 50, O'Fallon, IL 62269
One Ginger Creek Meadows, Glen Carbon, IL 62034
1405 N. Green Mount Road, Suite 400, O'Fallon, IL 62269
110 Rottingham Court, Suite B, Edwardsville, IL 62025
1305 D'Adrian Professional Park, Godfrey, IL 62035
115 W Washington St, Belleville, IL 62220
23 Public Square, Suite 300, Belleville, IL 62220
5 Park Place Professional Centre, Swansea, IL 62226
1939 Delmar Avenue, PO Box 735, Granite City, IL 62040
2227 South State Route 157, Edwardsville, IL 62025
105 W Vandalia St, Suite 100, Edwardsville, IL 62025
521 W Main St, Suite 300, Belleville, IL 62220
210 W Vandalia St, Suite 210, Edwardsville, IL 62025
103 W. Vandalia Street, Suite 215, Edwardsville, IL 62025
216 North Main Street, Edwardsville, IL 62025-1604
230 Regency Cemtre, Collinsville, IL 62234
411 St. Louis St., Edwardsville, IL 62025-1603
23 S. First Street, Belleville, IL 62220
Richland Plaza 1, 525 West Main Street, Suite 200, Belleville, IL 62220
325 South High Street, Belleville, IL 62220
Richland Executive Plaza, Suite 100, 521 W Main Street, Belleville, IL 62220
Staunton 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.