Matthew van Winkle's Answers

Should I use a real estate lawyer instead of a real estate agent in Washington State?

There are a variety of options to use a lawyer for a purchase, including lawyers that are also licensed real estate brokers (myself included) that provide a range of service from flat rate representation to more comprehensive services. It depends on your comfort level, though I always advise legal counsel. The listing agent for the property could provide you the standard MLS purchase and sale agreement or any real estate attorney could assist.

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Does a house have to be listed with a Broker?

There is no law that is has to be listed with a real estate broker, but most banks will require it to be listed with a broker to create maximum exposure if you are trying to get the bank to agree to a short sale.

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Credit hit worse with foreclosure or short sale?

Generally, it is better to go through a short sale. It usually shows up on the credit report as a debt satisfied for less than the amount owed which is better than a foreclosure. If you have a foreclosure on your credit, that will likely limit your ability to get another home loan for a longer period of time than a successful short sale.

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Does a house have to be listed?

There is no law that a property has to be listed with a broker, but most lenders will require it to be listed if you want them to agree to a short sale. They want to know that the property was on the open market and attracted the best possible price before they agree to take the loss on the short sale.

What are the consequences/risks of walking away from an under-water mortgage?

There can be several consequences depending on your situation including significant hits to your credit score or depending on the circumstances a deficiency judgment against you by the bank. Also, Fannie Mae is discussing implementing new rules to punish homeowners that walk away from their mortgage by banning them from any Fannie Mae backed mortgage (which is a majority of all mortgages) for 7 years. There could be better options than just walking away, including a short sale, deed in...

Should I be charged for "cleaning expenses" for an apartment I moved out of two months ago?

Have you not received your deposit, nor a notice regarding your deposit that documents the reason for withholding it? The landlord has 14 days from the end of the lease to either return the deposit or provide you with a written statement of why all or part of the deposit is being kept. Also, a cleaning fee cannot be taken from the deposit, it must have been classified as a non-refundable fee at the inception of the lease. However, if you moved out before the lease ended, then the deposit...

Do I need a real estate attorney

Depends on the issue. What are you trying to do?

When should I hire a real estate attorney?

You should always hire a real estate attorney to review the contract and any other documentation and reports. Most people don't realize that their real estate agent often has no legal education. The licensing to become a real estate agent only requires a 60 hour online class and passing an exam. You should hire a real estate attorney to make sure you are protected and understand what you are signing.