Fred Griffin

Short Sale Question Shootout between Realtors and Lawyers on LinkedIn

      A question asking Realtors' Advice regarding a Promissory Note from the Bank to the Short Sale Owner/Seller quickly devolved into a heated argument between a Realtor and two Lawyers.  Other Realtors, Lawyers, and Lawyers who are Realtors have all chimed in!

 

LinkedIn Discussion Short Sale Note Advice

   

    This is a "Private Group" on LinkedIn; the Names of those commenting in the Discussion are blocked out below.

 

     From an Attorney:

     "You should send them to an attorney for legal advice on a debt obligation or settlement. To counsel the borrower or do otherwise would be the unauthorized practice of law."

 

     From a Realtor:

     "As a standard rule I always recommend my seller counter any note. Usually you can at least reduce it, if not make it go away altogether."

 

     From another Attorney who is a Realtor:

     "...as a lawyer and a Realtor I've got to tell you to rethink your "standard rule." PLEASE!!! If something was to go wrong and your client talked to a lawyer, after the fact, you could very well find yourself in court.  What you're doing constitutes practicing law without a license."

 

     From a Realtor:

     "...another classic Lawyer response to a Realtor conversation... say - isn't there an ambulance somewhere you could be chasing?"

 

LinkedIn Discussion Realtor vs. Attorney

 

     So what is the answer?

     I am not taking any chances on this one!  I called the Florida Association of Realtors in Orlando to speak with one of their Attorneys.  This is what he told me:

 

 Fred Griffin Tallahassee Florida Real Estate Broker on LinkedIn Short Sales

       A question asking Realtors' Advice regarding a Promissory Note from the Bank to the Short Sale Owner/Seller quickly devolved into a heated argument between a Realtor and two Lawyers.  Other Realtors, Lawyers, and Lawyers who are Realtors have all chimed in!

 

Frederick Griffin, Licensed Florida Real Estate Broker    850-545-1901

 

Tallahassee Florida Metropolitan Area

and the Coastal communities of

Shell Point Beach, Live Oak Island, Wakulla Beach, Saint Marks, Panacea

 

Exclusive Representation for Buyers and Sellers 

Call Fred  850-545-1901

 

 Realtor logo       HUD Logo Fair Housing

 

 

Frederick Griffin, Licensed Florida Real Estate Broker    850-545-1901

 

Disclaimer:  Nothing in the above blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comment balloon 4 commentsFred Griffin • April 18 2013 10:14AM
Short Sale Question Shootout between Realtors and Lawyers on LinkedIn
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