Pleasanton Short Sales Lawyer
San Francisco Bay Area Real Estate Law Firm
When you are experiencing financial hardship and are unable to keep your home, there are alternatives to bankruptcy and foreclosure. One of the best options is through short sales. As a real estate attorney and a certified public accountant (CPA), I can help you protect your credit rating and minimize tax liabilities while discarding your residential real estate. Contact me.
I am San Francisco Attorney Connie Yi. My law firm offers a complete range of legal services for individuals and families facing financial difficulties and the loss of their homes. As a lawyer with licenses as a certified public accountant (CPA) and a real estate broker, I am proud to provide legal services beyond the standard that most firms offer.
Benefiting from short sale agreements
Lenders are not always eager to reach short sales agreements since it means they lose money. However, it is often in the best interest of homeowners who need to shed their real estate investments to negotiate this kind of sale. A short sale allows a homeowner to walk away from the property with little or no tax liability.
There are options to short sale. The most common include bankruptcy and foreclosure. Both of these options will damage a person's credit history. Additionally, with a real estate foreclosure, a lender may issue a 1099 for the deficiency amount forgiven on the loan. When tax time comes, the 1099 may impact their tax final liability for the year.
Qualifying for short sales
Personally negotiating a short sale agreement can be a time-consuming and frustrating experience for homeowners. A short sale package must be compiled that includes specific documents proving financial hardship and then comes intense negotiations.
When you choose my firm, I handle all the details for you. I work with you to obtain the essential documents and complete the application. Further, as an experienced negotiator, I work on your behalf to reach an acceptable agreement with the lender that favors your interests. With my professional connections in the real estate field, I can work with other experienced brokers to facilitate the listing and sale of your home while you live there rent free.
For one-stop real estate and tax law services in San Francisco, contact me for consultation. For your convenience, I maintain four accessible locations in the Bay Area with free parking and accept all major credit cards. In addition, I speak fluent Chinese. Evening and weekend appointments are available.