Home / Short Sales / Is it better to short sale with a Realtor or attorney? Episode #195
Is it better to short sale with a Realtor or attorney? Episode #195
Hello! Welcome to Todd Miller TV. I’m here again with Amanda Brown, and Amanda, so I meet with Attorney Ryan Alexander, we talked about the benefits of using agents versus an attorney and so I wanted to talk to you about that. So, tell me from you perspective, what’s the difference between the Amanda Brown Short sale experience using you versus going out and going to one of the various law firms that see on billboards says they will do your short sale. Okay. Tell me some of the like differences compare and contrast.
Amanda: The law firms you see advertise that they’ll do short sales for you. From my reaserch I found the they charge an up-flat fee as much as $3,000 just to list your property, and have a consultation with them. With me, it’s a free consultation with me. And also I have 3 different attorneys that I have worked with out in Las Vegas that will do free consultation to my clients up to 30 mins. And that also includes reviewing your short sale approval letters at no cost to you. We charge the banks, the money on the HUD, and if the banks are unable to pay the money at that particular time, the some fee has get washed. So it’s not out pocket expense to you to work with me and you’ll have a free 30 minute legal consultation whereas like i said in the other ones, they have attorneys, their law firms have an upfront fee and then you’ll still gonna end up having to list your property with an agent and I’ve heard of variety of different out pocket expenses that keep taking place with this attorneys. I’ve heard one attorney’s office doesn’t charge ans say also, along with upfront fee, they also charge you each month until the deal is done. And I’m not sure why that anyone would consider that because it’s a law firm, you’re gonna procrastinate getting the deal done ’cause you’re gonna make more money every month.
Todd: So let’s about that’s very interesting. When do you get paid? Someone gets to you to do a short sale, when do you get paid?
Amanda: We get paid when the home closes. We get our commissions paid by the bank when the home closes.
Todd: So if, Okay, so, you’re goal is to get it done in a reasonably amount of time, something that’s good for them. Do you think that as an incentive, if someones getting paid every month on a short sale, you think that distance incentivise them to rally get it done? I mean why would they wanna complete it if they’re gonna get paid not to complete it?
Amanda: Exactly! Yes. And us, since we don’t get paid until we complete it, and the same with my staff, they do not get paid. They’re not on an hourly wage. They get paid commission also. They get paid when I get paid that’s when the file closes. So, for us, we’re always on urgent mode or fast mode trying to get the files done as quickly as possible for everyone.
Todd: Okay. Do you think that there’s a different success rate between an attorney? ‘Cause people have this opinion, like attorney, they have a lot agree, they some magical power that an agent doesn’t have. Do you think that they have a higher success rate than you would have.
Amanda: No, I don’t think they have a higher success rate.
Todd: But just cost more probably.
Amanda: Yeah! Cost a whole lot more.
Amanda: And, I was gonna say too, I mean, I even have one time where I was negotiating, a hardcore negotiation on one of them one time and when we got filing, what we really/we end up getting what we wanted and then I told the bank I said “Okay, I have to send this to an attorney to review” and she thought says to me “Oh, I though you were the attorney.”
Amanda: So you know, I did not disclose to her that I was or was not at the time, I was just trying to get the deal done, but that just shows you I mean we know how to fight with the banks or do what we need to do to get the negotiations done to work. You know, that one lady was mislead the whole time she thought I was one.
Amanda: I never said I was, but that’s kind of her.
Amanda: She assumed I was with the way I was speaking to her ’cause I know what I’m talking about.
Todd: Good! I like that. You did know what you were talking about. Okay so, if they want to call you to set up a consultation with you to talk about short sale. How do they get in touch with you?
Amanda: I prefer you call me on my cellphone. And that number is 702-496-7416.
Todd: Awesome! Well thank you. That was great! Well you got it. I just wanted top share’s Amanda’s talent and experience with you and just give you another/an option with your short sale. That is my update for today and hope to see you on another video. Thanks!