Real Estate Agents Are Licensed to Transact Real Estate - Not Give Tax and Legal Advice

I received a call the other day from someone wanting to discuss selling his home as a short sale. Those were his exact words "I need to talk to someone about selling my home as a short sale."

I frequently receive calls from people who are seeking a one hour no obligation consultation …of course at no cost. I typically schedule consultations at a time when all interested parties are available to participate.

Before I could suggest we schedule a consultation, he went on to tell me the location of the home and list of other details, followed by and "I think I am just going to let it foreclose." Because that statement intrigued me, I asked: “Why would you just want to let your home foreclose?”

His response: “Because they can’t come after me for anything if I let it foreclose … can they?”

Without taking a breath he went on to say: “Does this make sense to you?”

He began reading something that sounded all too familiar to this San Jose Short Sale Agent. Before he could finish I interrupted (yes, I did interrupt him) and said “it sounds like you are reading from a short sale approval letter. Is your home already listed; in contract; and approved by your lender?”

“Yes” he replied.

To which I asked: “Why are you not discussing this with your agent?”

His response: “I did. She keeps telling me not to worry about it.”

To which I asked: “Have you talked to an attorney or CPA well versed in pre-foreclosure and foreclosure law?”

His response: “No.”

Me: Why not?

His response: "Because I do not want to pay for it."

Me: “Well, life isn’t free. This is so common these days. The belief that real estate agents are the know-all and end-all to a short seller’s financial difficulties is seriously flawed. We are not licensed to give legal advice. We are not licensed to give tax advice. You have an agency relationship with the person you hired to list your home. You need to discuss your concerns with your agent and/or a legal or tax professional.”

As a San Jose Short Sale Agent I provide tax and legal referral resources to my clients. I also strongly recommend that they seek tax and/or legal advice before proceeding with a short sale. In some cases, I also recommend they consult with a bankruptcy attorney. If my clients are interested, and most are, I provide a credit repair resource as well.

My job as a San Jose Short Sale Agent is to provide information and resources so that people can make informed decisions. I am not qualified to make decisions for others and I most certainly do not have a license to do so.

If you need help with a San Jose short sale, then give me a call. If you are looking for an experienced short sale agent in another county or state, give me a call ...I will be happy to refer one! I am happy to help in every possible way.

If you have hired another agent, I am unable to consult with you unless or until the agency relationship is terminated and the property is no longer listed for sale.