Imagine this — three siblings have recently inherited their childhood home. It’s a massive asset, and they want to make sure they honor their parents’ wishes and use the value of the home for the betterment of themselves and their families.
Legal disputes stemming from residential real estate transactions are on the rise, largely due to the increase in short sales and foreclosures. In regards to short sales, some sellers are taking legal action against their own real estate agents, alleging that they misrepresented or failed to disclose the possible loan deficiency amount owed to a lender (usually a “2nd”) and/or tax obligations.
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