Last week we picked up a new client , we’ll call him “Joe”, and his story one that we’ve heard far too many times, only the characters were different. So I felt that I needed to share it with everyone in hopes that someone will benefit from it.
Joe fell behind on his mortgage about 6 months ago and decided that he wanted to short sale his Orlando house. Instead of consulting with an Orlando short sale realtor, he and his wife went to see a real estate lawyer.
Joe’s BIG mistake
The biggest difference between consulting with an Orlando real estate attorney and consulting with an Orlando realtor is that one charges $250.00 per hr and the other doesn’t get paid until the job is done. Can you guess which one is which?
Anyway, back to the story. When they sit down with the attorney, they were so impressed with all the shiny plaques on the wall and the expensive furniture, that by the end of the conversation, they wrote him a big fat check for $3,000.00 for him to complete their short sale…[ I guess my mom was right I should have gone to law school!]
The plot thickens… At first they asked him to submit the usual paperwork: bank statements, tax returns, etc. Then he would call in for the usual update once a week or so. This went on for a few months and the answer from the law firm was always the same; it’s being worked on.
After he didn’t hear back from the lawyer for a while, he decided to call his lender to find out what’s going on and guess what?…. The lender had closed the file because of missing documents!!
Joe was furious and wanted answers so he called the Law office to speak with the lawyer. His only conversation with the lawyer to this point was when he wrote him the check, after that he would always be transferred to a processor or secretary.
When he demanded to speak with the lawyer, they said he would have to schedule an appointment to come in…Oh, and he would have to pay the hourly rate of $250.00!!
With an approaching auction date, and having to start the short sale from the beginning, he was now in a much worse position. Not to mention he lost the $3,000.00 that he paid to the lawyer…have you ever tried getting a refund from a lawyer before?
We’re working hard on Joe’s file right now, especially to stop the foreclosure sale on his house. Since he
wasted so much time, our work is cut out for us.
The moral of this story is…Even if you’re considering a lawyer to do your short sale, why not consult with an experienced Orlando short sale realtor first. It’s Free!
