Real Estate Law
Areas of focus within Real Estate Law.
Trustee’s Sales, Foreclosures and Short Sales
The current housing crisis has not only affected residential homeowners, but commercial property holders as well. As foreclosure sales and trustee sale transactions rise, so does the need to have qualified real estate counsel on your side if you are involved in this type of proceeding. At Margrave Celmins, P.C., we represent owners of property who are subject to a trustee’s sale, as well as prospective purchasers who may be interested in acquiring real property below market value. Because we have experience handling both sides of a trustee sale transaction, we can inform our clients about every step of the process and help you plan accordingly.
When a property is going to be sold through a trustee sale, it is important to thoroughly research the real estate asset before you decide to engage in the bidding process because these properties are sold “as-is, where-is.” You will also need to pay cash or a cash equivalent, such as a cashier’s check, if your bid is successful at the trustee sale. We will assist you with the bidding process at the trustee sale and should your bid be accepted, we will make sure that the rest of the transaction moves smoothly and that the trustee’s deed is transferred properly over to you.
If your property is subject to a trustee sale, we will make sure this option is the correct avenue to utilize and that you are treated fairly. We will help you with any necessary postponements you need to file, help you determine the opening bid amount and we will assist you throughout the trustee sale bidding process to ensure that things run smoothly. We will also help with any monetary and deed transfers to complete the sale.
Should a dispute arise on either side of the trustee sale transaction, we will aggressively negotiate for a settlement. In the event that litigation becomes necessary, however, we are thoroughly prepared to represent our clients zealously in court.
In the current, difficult real estate market in Arizona, Margrave Celmins, P.C. can assist you on either side of transactions involving short sales of residential and commercial real property. Whether your business is facing bankruptcy and your property is subject to a commercial property short sale or you are a residential homeowner who is looking to buy a short sale property as a primary home or as an investment property, we are here to help ensure that the legal transaction runs smoothly. Whether you are deciding to purchase a short sale property or your business’ location is subject to a short sale, we can counsel you about your options, helping you define your business objectives, as well as identifying what is in your best interest to helping your business continue to operate effectively and succeed.
When we are involved in short sale negotiations, our attorneys:
- Establish strategies
- Draft documents
- Counsel owners and sellers to achieve protections under Arizona’s anti-deficiency statutes and creditor claims
- Facilitate purchases and sales