Home Buying in 91790 : Advice

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Jaryd Ruffner, Real Estate Pro in Puyallup, WA
Jaryd Ruffner answered:
can buyer back out and received full deposit back on a REO property when bank already accepted the offer?
This will be 100% dictated by your rights which are outlined in the purchase contract and any bank addendums you may have signed. Bank addendums will supersede all verbiage within you p ... more
0 votes Share Flag Thu Sep 23, 2010 Home Buying in 91790
Emily S. Kne…, Real Estate Pro in Huntington Beach, CA
Emily S. Knell answered:
In Ca can a buyer back out of a short sale that hasn't been approved by the bank yet. In the SSA the bank has up to 2 mths to accept offer.
Yes, you can back out. As soon as you know that this is what you want to do, please don't hesitate and tell the listing agent as soon as possible, so they can put the house back o ... more
0 votes Share Flag Fri Jun 25, 2010 Home Buying in 91790
Richard Leci…, Real Estate Pro in Tucson, AZ
Richard Lecinski answered:
Wells Fargo Short Sale Info
In our area our buyers sign the Short Sale addendum at the same time as the purchase offer. If you takle time to read the Short Sale addendum you will understand why.
0 votes Share Flag Wed Feb 10, 2010 Home Buying in 91790
Bill Mota, Real Estate Pro in West Covina, CA
Bill Mota answered:
can a buyer back out if an offer to a short sale has been accepted by the seller but there is no response from the bank yet approving?
Your offer on a short sale SHOULD have included an addendum (SSA Short Sale Addendum) that states that the contract is NOT binding UNTIL written approval of the short sale is received.
... more
0 votes Share Flag Mon Dec 14, 2009 Home Buying in 91790
Jonathan Sta…, Real Estate Pro in Covina, CA
Jonathan Starr answered:
Correction: Can a BUYER (not a Seller) back out if an offer to a short sale property is accepted? Any fines?
Hi Amanda,
The answer is almost always "Yes".
In general, Buyer’s can almost always back out if they have discovered material facts that are detrimental to the purchase.
T ... more
0 votes Share Flag Thu Aug 6, 2009 Home Buying in 91790
Kerry Harvell, Real Estate Pro in Monterey, CA
Kerry Harvell answered:
Can seller has the right to cancel REO property sale that has been in Escrow and buyer already done appraisal?
Hi Lori, sorry to hear about your situation.

You were not buying an "REO", you sound like you were in a short sale situation. Let me define the terms for you.

Short sale: Owner is ... more
2 votes Share Flag Fri Aug 29, 2008 Home Buying in 91790
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