Protecting Your Property Rights
There are many legal matters surrounding real estate. Purchase or sale of property may seem simple, but there are many ways in which it can quickly become complicated. Having an attorney help you through any real estate-related matter will simplify it and protect you from unnecessary stress.
Aiello and Associates is a firm located in Warren. With more than two decades as a firm and more than seven decades of combined experience among the attorneys, we are prepared to help you protect yourself through real estate transactions such as:
- Foreclosure: This is an action to accelerate the entire balance due on a land contract, including all principal, interest, costs and expenses. Upon entry of a judgment of foreclosure, the property can be sold at a sheriff’s sale.
- Forfeiture: This is an action that is filed in the local district court where the property is located for purposes of allowing the vendee of the land contract (i.e. the buyer) the opportunity to bring the land contract current, including all arrearage for payments, taxes, interest, costs and expenses
- Short sale: This is where a property is sold when a seller has negative equity in the transaction.
Why Hire An Attorney?
If you do not have an attorney, you may not understand the complex legalities of your real estate transaction. For example, you can be sued years after the short sale is completed on the deficiency balance by a collection agency. It may cause you to file a bankruptcy to protect yourself. You may be liable to the IRS for the waiver of debt. Your realtor may not understand what a deficiency is and the realtor will get paid a discounted rate whether you negotiate the deficiency or not. Further, the bank may commence with the foreclosure sale if you do not retain an attorney to have the foreclosure sale adjourned, allowing you time to find a buyer and complete a short sale.
Contact Aiello And Associates Today For Help
Hiring an attorney can protect you from all these complications. To speak with one of our attorneys, call 586-250-5527 and schedule your free consultation. You can also reach out through our online form.