Home Buying in Winchester>Question Details

Dreamr1329, Home Buyer in Winchester, VA

What can we do about the lack of information on our short sale contract?

Asked by Dreamr1329, Winchester, VA Wed Jun 2, 2010

We have a contract on a short sale house since Jan 2010 with a closing date of Apr 2010. It is now Jun 2010 and we can't get a response from the listing agent. Shouldn't they be providing updates?

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Answers

4
I am hoping that you have your own agent- he is the one to be contacting the list agent for updates if they are not being volunteered. Short Sales are not short on time, they are short on money. Patience is a requirement!
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0 votes Thank Flag Link Wed Aug 25, 2010
It is assumed you have Realtor representation who submitted the offer on your behalf. You need to get in touch with your agent and have them determine the status of your transaction. If your closing date was not met, or extended, there is a possibility the contract is dead. Ask your agent! I'm certain they will gladly track down the listing agent to determine the issue/status of your deal!
0 votes Thank Flag Link Wed Jun 2, 2010
The answer to this question lies within the contract itself. My guess - there's nothing you can do but wait it out or perhaps terminate the contract and move on.
0 votes Thank Flag Link Wed Jun 2, 2010
Keep in mind that short sales are by no means fast sales, and the closing date stipulated on a contract is often not met--the listing agent may not have any new information to provide--do have your agent keep checking in periodically with the listing agent and ask for follow up/status--unfortunately, patience is needed.
0 votes Thank Flag Link Wed Jun 2, 2010
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