If you used the Short Sale Addendum form (SSA) when making your offer, please review paragraph #6. It states that unless agreed to in writing, the seller has the right to accept back up offers but should notify the buyer if another otffer is submitted to the bank.
Hope that helps,... more
When you accepted, (signed their Counter) you SHOULD have had a Contract.
At that point, you should start doing your Loan and Inspections.
I am answering very tenatively because your Buyer's Agent should be handling this for you.
At the very least, the Listing Agent could affirm that you are under Contract and when the Appraisal was going to be done.
Why don't you KNOW where you stand? Is nobody communicating with you?
Good luck and may God bless... more
Cash-for-keys (relocation assistance) is completed typically to get you to move out within a short period of time and leave the home free and clear of any trash or debris. There are certain other stipulations in the Move-Out Agreement and each one has a different amount and similar terms. There are also relocation assistance programs for foreclosures and short sales as well, however each bank is different and it all depends upon the individual servicer/investor involved as well.
Before doing a Deed-in-Lieu, your best option is to get with a Pre-foreclosure Specialist and conduct a Short Sale. It's also the right thing to do. But you better hurry, it sound to me like you don't have much time. Feel free to contact me if you'd like to discuss your options more in detail.
Keller Williams Realty
Email: RayWright@kw.com... more
You should speak with a real estate attorney asap. They will be the person to provide you with expert advice and be able to help you navigate this tricky process. You should seek an attorney who has experience in evictions.
Keller Williams Realty... more
Due to truth in lending laws most lenders will not lend on amounts less than 70K. The reason for this is because the minimum fees they can charge won't comply with lending laws under that amount. I would contact both a mortgage broker and a direct lender to see if either can help you.
Realty World & Associates... more
It's good to take these questions into account when pursuing a distressed property. You are a lot less likely to encounter funny business with a foreclosure than with a short sale. By the time the bank has taken the home back, they are usually responsible for the same fees as a normal seller. One thing to take into account is if you are in a buyer/broker agreement with a real estate agent, make sure you communicate your intentions of pursuing the REO property. Sometimes the banks will not pay the entire commission amount. But, then again, a good agent should have already had this conversation with you. Another concern is inspections. Since REO property is sold as-is, the home inspection process is vital. You really want to make sure you aren't buying a money pit that is going to require serious repairs, and if you do, at least you know about it up front. Best of luck to you!... more
Here is the info for the purchasing process in CA. from the State site.......http://www.sco.ca.gov/ardtax_public_auction.html
For Riverside County.....http://www.treasurer-tax.co.riverside.ca.us/tax_sale_information.html
Riverside County Tax Sale
Good luck, Dunes... more