The litigation train is coming
By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
Are you on board or are you smart enough to be standing on the side of the tracks. For all the agents that are doing short sales and not getting a release of liability for the deficiency for their sellers you may be in trouble in the future. I am amazed at how many real estate agents that are not doing this. Banks like Bank of America is not giving those deficiency release letters out. So that means sellers can be on the hook for the difference between sales price and the amount they owe. If your client gets a bill from their old bank for $40,000, $50,000 or $100,000 who do you think they are going to come after. I think they are going to go after the real estate agent that didn't look out for their best interests. An agent that didn't do their job. An agent that didn't cover all ...
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