Home Buying in Orange County>Question Details

Damion Const…, Home Buyer in Reston, VA

can we sue the negotiator who closes a file on a short sale with an active contract on the house?

Asked by Damion Constantopoulos, Reston, VA Mon Aug 15, 2011

We have an active contract on a short sale house, we were told that the selling bank had approved our offer. We had the inspection done and the appraisal. My agent called today to find out that CHASE Bank (negotiator) had closed the file. Now it has been reopened but might take another 3 weeks to get approval. I have a special needs child that has to have residence before I can register her for school. I also have an 8month pregnant wife. We have been jerk around since April.

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Rachel Dammann’s answer
Unfortunately this happens a lot. Was there a reason they closed the file? Is the seller still cooperating with the bank's requirements and requests for information. Is the listing agent on top of this file? I would try to call the VP of Short Sales at the bank to see if they can expedite the file. If they have all the information, you need to try to get to the top of the list of the person making the decisions, don't let them put you on the bottom of the pile!
0 votes Thank Flag Link Mon Aug 15, 2011
They are under no obligation to do a short sale... I think is a privilege because in many states... it is not even an open.
That being said... do I ever symphathize with you!!! We are all sooo frustrated with the process!!! Why did the file get closed? Did you have it in writing? I never let my clients do then inspection or appraisal until I have it in writing because I have seen too many bad things happen with a verbal!!! Try to tell you agent to tell listing agent to get it expidited... they can do that but you gotta push!!!

I know this doesn't help but you are not alone... fair warning to anyone who enters a short sale... put your patient hat on and be prepared for the frustration!!! I wish you all the luck and happiness that life can bring you!!!

Kindest Regards,
Dianne Hicks
0 votes Thank Flag Link Mon Aug 15, 2011
Since you are asking a legal question, it's really in your best interest to consult with an attorney who specializes in real estate...
0 votes Thank Flag Link Mon Aug 15, 2011
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