Short Sale

If you are one of the nearly 45% of Florida homeowners that are “underwater” in your mortgage, you may wish to consider a short sale. But be forewarned, not all short sales are created equal and entrusting your legal rights to a realtor without a full understanding of the implications can result in a judgment that will follow you for 20 years, ruin your credit and subject you to an onerous non-dischargeable tax burden.

Don’t get us wrong, realtors serve a specific and important role, their job is to quickly and efficiently market and sell your home. Their job is not to look out for your legal rights, that’s where you need the knowledge and experience of the law firm of Cox & Sanchez.


A Short Sale is a standard real estate sales transaction, but for the value of the property which has dropped below the amount that is owed to the mortgage companies; the payoff to the mortgage company is therefore “short” of the actual balance due. In these circumstances, the approval of your real estate contract will require your mortgage company’s approval.

Attorney Thomas F. Cox has been intimately involved in real estate law since becoming a title and closing agent in 1987, and a Special Tax Master for the Pinellas County Tax Collector.  Mr. Cox has also represented mortgage companies, developers and condominium associations, and understands the nuances and implications of short sales and real estate issues. Who else better to represent you with your real estate and short sale needs, than a former insider who understands the mind of your opponent?

The short-sale process is delicate and multi-faceted, and requires specialized skill and expertise. In this situation, you not only have to consider the real estate sales transaction, but must also understand the potential financial deficiency, tax implications related to waivers or forgiveness of debt and the disclosure of your personal and financial documents; which could ultimately provide sensitive financial information to your creditors. It is therefore imperative you have a law firm that will have an understanding of the many issues involved in this transaction, including legal, financial, real estate, tax and asset protection.

If you want straight answers from aggressive and knowledgeable attorneys, who will talk with you and not at you, so you understand your legal rights and options, contact Cox & Sanchez.

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