Sounds like you made the offer through a listing agent who had no clue how to do a short sale. The listing agent should of told you up front there were two liens if they knew what they were doing. The seller also should be signing off on the banks letter of the what they will accept as a payoff so you know the seller agreed to that. The seller must sign off for you to close as they are still the legal owner of the property. How did things turn out?

Finally closed, 3 mo to the day since we picked it out, just one month to the date too late for him to enjoy it.

Hi Cjweav;
First, I recommend you contact one of these 3 great Ocala, Florida, real estate attorneys: Randy Klein, Att at Law 352-732-7750; Michael Cooper Attorney at Law 352-732-4500; Ken Williams, Att at Law 352-732-8121.

Secondly, if you have signed for a mortgage for this property, your lender should be making sure they have a copy of the paperwork signed by the seller and their lender. Your lender can threaten to cancel the transaction if they don't have all the paperwork back signed by both parties within 2 days after you closing.

For any future real estate transactions, please call me for a smooth transaction. I specialist in short sales.
ps, I love referrals =) Cheryl Bednar-Jimenez, Realtor 352-304-4654
Coldwell Banker Ellison Realty cjimenez@ellisonrealty.com

This sure does sound like a nightmare. At this time I would suggest you consult a Real Estate attorney, and make sure that you are protected from any future issues that might rear their ugly little heads. I'm surprised that the title company took so long to realize there was a second mortgage, or that they didn't have the keys or the paperwork required to get the keys. How did the title company put the package together, have you sign all the paperwork for the loan, and not know there were no keys?

I hope you had a survey done, since your description sounds like this is a single family house. If no survey was done, please make sure you get one.

Please make sure you let your friends know that they should learn from your experience and have their own REALTOR and their own attorney. The attorney is worth the fee, because they are looking out for your best interests.

I hope everything goes smoothly now, and wish you the best once you get into your new home.

Nadine Mauro
Regency Realty Services
561-414-0864
NadineMauroRE@yahoo.com

I already put deposits out there for electric and water, they have already been turned on, My insurance started 5 days ago, I want to get in this weekend, and now they tell me there is a problem with bank needing to extend the closing, I signed, as far as i am concerned I closed.

What a mess. Sounds like a typical short sale to me. Sounds to me like you are very far along in the process. You have already been through the worst of it. If you have signed your loan docs and are just waiting for lender approval, then stay patient and hold tight. I'm sure you are VERY fed up at this point considering what you have been through, and rightfully so. What a nightmare! Keep in touch with the title company and your agent. I'm sure it will all work out very soon. If the lender is waiting for docs from the seller, the you can be sure that the lender will take twice as long to approve receipt. They are swamped with hundreds of the same situations. Just so you know, you have made it much further than most people in a short sale. Good luck!