Home Buying in 95757>Question Details

Bellaicenhow…, Home Buyer in Eagle, CO

I am in the short sale process. I have a 1st offer and a back up. Chase accepted the 1st in position's offer. But I do not like this woman.

Asked by Bellaicenhower, Eagle, CO Sat Oct 12, 2013

I had tried to short sale my house previously with this same 1st person. She low balled Chase-which of course the declined. Then she called the city on me for un permitted work (which I had to put more $$ into the house). I have tenants in there that have stopped paying rent. The 1st bought the house next door and lives there! I know she has talked to the tenants and told them to stop paying, so she will not be liable for the deposits etc.... How do I get rid of the 1st? And let the 2nd buyer who will offer the same amount have my house?

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Getting out of contract is usually a legal matter, that only an attorney can remedy. Do you have representation?
0 votes Thank Flag Link Sat Oct 12, 2013
There is not much you can do. Just be glad you have an acceptable offer and you can be rid of the house. If this woman is that bad and under handed just remeber what goes around comes around. Good luck.
0 votes Thank Flag Link Sun Oct 20, 2013
Lol, did you just say you don't like the woman who's offer the bank accepted and so you want to get rid of her?

Wow. Speechless.

Wait, I do have something to say. Business cares nothing about your feelings. Sell your home and move on.

Keisha Mathews, REALTOR®
CDPE®, HRC®, HAFA® Certified
SAR Masters Club Member 2012
SAR Masters Club Steering Committee
Mathews & Co. Realty Group
@ Century 21 Landmark Network
(916) 370-1803 cell
lic#: 01439130
0 votes Thank Flag Link Sun Oct 20, 2013
I am not sure I am following you on this one. Your agent should be assisting you in this area. But, my first question would be if the short sale process has been going on for a while is have your agent contact the lender and see if the 1st buyer is still pre approved for the purchase. Because if she has since purchased the home next door she may not be pre qualified to purchase your property. Hopefully, this will resolve the problem. Call me if you this doesn't work. You may need to get a more aggressive agent negotiating on your behalf.
0 votes Thank Flag Link Sun Oct 13, 2013
Earlier responders assumed that only the bank can cancel this first position buyer. If that is so, Chase could cancel the 1st buyer.

You wrote that you "know" she told the tenants to stop paying rent. If you have proof, you could ask your listing agent to disclose that to your Chase negotiator.

You did not post what your agent advised you on the subject. That would have been germane to this discussion.

my opinion? : Well, since you don't live there yourself, and the tenants are not your friends or family, and you probably don't get money from the sale whether it is buyer #1 or buyer #2, then if the only reason you want the deal killed is your distaste for buyer #1, I agree with the earlier posters.

If I were in your shoes, I'd just let the sale take its course if it is not going to cost you more money to complete the transaction. I don't understand why you had to put more money into the house on the unpermitted work. But, you did, and now that money is gone and you won't be getting it back.

You wrote that the tenants stopped paying rent, You did not say if they stopped paying before or after you stopped paying Chase. If they stopped paying you after you stopped paying Chase, that is different than if you are still paying the mortgage and other expenses. I don't know how its different. It just feels as though it is.
0 votes Thank Flag Link Sun Oct 13, 2013
Jim Walker, Real Estate Pro in Carmichael, CA
As mentioned below - you signed the offer - no one made you do that.

You don't have to "like" the buyer...........

You are, unfortunately, upside down on your loan, and asking the bank to accept a loss........they HAVE accepted the loss..........I'd be happy you got to this point if I were you

The offer was signed (by you), and sent to the bank, subject to bank approval.............the bank approved ...so...it is really out of your hands.

Good luck - hope it closes!
0 votes Thank Flag Link Sat Oct 12, 2013
It's no longer your decision, it's the banks.
0 votes Thank Flag Link Sat Oct 12, 2013
You originally signed and accepted her offer and then it was sent to the bank. You did not have to accept her offer or to sign it. You did now live with it, I doubt they want you to move in with them anyway.
0 votes Thank Flag Link Sat Oct 12, 2013
What does your REALTOR say?? It's not really up to you. You have a signed contract between you and that Buyer. And the bank has accepted that offer, correct? Just MOVE ON.
0 votes Thank Flag Link Sat Oct 12, 2013
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