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Reasonable Fees

Recent Posts

Short Sale Deficiency

By Platt & Westby, P.C. | September 3, 2010

A short sale agreement should, ideally,provide inclear and explicit languagethat a seller is released from all financial responsibility upon closing of the short sale. Some agreementsdo so provide. Butoften specific release language is omitted and the short sale agreement provides only that the lien will be released to enable the sale to close. Where does this leave the Seller? Is the Seller responsible for any deficiency remaining after the short sale? Arizona caselaw provides some help. Tanque Verde Anesthesiologists, L.T.D.…

Arizona Trustee Sale/Foreclosure Requirements

By Platt & Westby, P.C. | September 2, 2010

In Arizona the vast majority of real estateforeclosures are accomplished by the non-judicial trustee sale procedure. This has the advantage of being faster and cheaper than a traditional judicial foreclosure. But a Trustee appointed by a Lender to do a Trustee Sale must follow Arizona legal procedures. As of July 30, 2010, a lender must: 1.MAKE CONTACT. Thirty or more days before recording a notice of trustee sale, a Lender must contacta Borrower to discuss alternatives to foreclosure. The Lender…