How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask J. Warren Your Own Question
J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2240
Experience:  Experience in residential real estate and commercial leases.
64316804
Type Your Real Estate Law Question Here...
J. Warren is online now
A new question is answered every 9 seconds

WE ARE TRYING TO SELL HOME ON SHORT SALE. THE SHORT FALL WILL

Customer Question

WE ARE TRYING TO SELL HOME ON SHORT SALE. THE SHORT FALL WILL BE 45,OOO.00 IF LENDER APPROVES. ARE WE RESPONSIBLE FOR ANY/ALL OF THE SHORT FALL AMOUNT?? PROPERTY IS IN NEBRASKA
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  J. Warren replied 1 year ago.
Hello and welcome to JustAnswer. Please note:This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.I am sorry you are facing a short sale situation. Potentially yes there is liable for the deficiency (short fall) on a short sale in Nebraska. However, the bank can agree to a waiver of deficiency. This has to be negotiated between the owner and the bank. This must be in writing and is typically included in the short sale approval letter between the owner and the bank.Thank you for allowing me to help you with your questions. I apologize that this was probably not the Answer you were hoping to receive. However, it would be unfair to you and unprofessional of me were I to provide you with anything less than truthful and honest information. I hope you understand. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! Please press a positive rating above this message box in the ratings section so I will be paid for my time assisting you on this matter. Pressing a positive rating will not cost any additional money - it is simply the trigger used by Just Answer to pay me for my time (pressing the middle star or the fourth or fifth star on the right are all positive rating buttons).

Related Real Estate Law Questions