It's terrible to feel "cheated" isn't it?
Next time you are interested in buying, I would recommend you become the client of an excellent "Buyer Agent"!. A "Buyer Agent" will help you negotiate the sale and would have told you exactly what was happening with the house you wanted to buy. They would have contacted the legal owners and presented an offer to them before the house went into auction, or arranged to have your offer placed at auction.
Your "Buyer Agent" would have not left you in the dark...and you would never have been cheated like that!!
This is sad, but it does happen. The seller had no control over the home going to auction. I hope you did not have a deposit tied up in this home, if you did it should be returned to you ASAP, as there is no deal.
With short sales ther are too many what ifs that can happen. You just experienced one of them.
Sad for the owner, as they were trying to get short sale approval from their lender, the foreclosure department was busy working to foreclose.
Do not loose heart, stay engaged inthe home buying process, as it is a process.
I wish you the very best!
Kawain Payme, Realtor
Putting 2 and 2 together you probably waited for the home in a short sale - the bank chose not to go through with the short sale, and foreclosed on it. Am I close?
Unfortunately, this happens with great regularity. Any time banks are involved, you can be sure that they have no particular interest other than their own.
Better luck next time.
I would be mad with the listing agent that advertised it as an "approved short sale" -did you ever see the approval letter? I hope you did not give any deposit... if you did you should be able to get it back... I would be ma at your buyer's agent for not providing you enough information or sound advise... or at yourself if you did not have a buyer's agent.
Never wait for a short sale... is like a lottery scratcher, if you get it you are lucky... but they are rather cumbersome and unpredictable...
I understand that you cannot sue for the loss of the house, because you can't prove that you lost a fixed amount of money.
Now; you cannot take my word for these; I am not an Attorney, and you should verify.
Editorial: The Banks are, and have never been in the P.R. business: Snidley Whiplash will foreclose on poor Nell at any time!