Legal Question in Real Estate Law in Wisconsin

A deed in lieu of foreclosure can look slightly better on one's credit record than a completed foreclosure, so they are often worth the effort. Each deed transaction is unique, with some leaving the debtor liable for the deficiency left owing after the sale while other transactions forgive this, depending upon what their attorney negotiated. These are often complex, frustrating transactions, which can run up a legal bill, and they can also fall through if not all creditors with liens agree to them, so experienced legal representation is a must. One should also make sure that realtor listing contract is specifically designed for a short sale,since borrowers can otherwise end up owing broker commissions if the bank refuses to pay them. It also pays to use a broker who emphasizes short sales in his or her practice.

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