Home Buying in Morrisville>Question Details

Janet Kessel…, Home Buyer in Darby, PA

why is the house that I have a contract with seller signed not being sold to me. Realtor will not give me anything in writing!! Is that legal? help!

Asked by Janet Kesselman, Darby, PA Wed Aug 1, 2012

Ive 50,000CASH & this foreclosure that has now turn to short sale, listed as a sheriff's sale, my dual realtor (who works with the seller's son also a realtor in his office) never took my offer to bank. No reason put on paper as to why. I am reporting them both! In process with lawyers, Commissions, plus an investigator. What more can be done to get to the bottom of this?? thank you

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Yes, my colleague from IL is correct. Go with your lawyers advice/recommendations.
0 votes Thank Flag Link Wed Aug 1, 2012
Janet - this sounds very confusing. I don't know how a transaction can go from a foreclosure (the bank owns it) to a short sale (the seller owns it and needs to negotiate with the bank).

there's absolutely no reason why the bank would "give" the property back to the original owner, in order to renegotiate a loss. It just doesn't make sense.

It sounds like getting the lawyers involved is the right step. Good luck.
0 votes Thank Flag Link Wed Aug 1, 2012
If the original price of $99,000 was foreclosure pricing... that means that the bank already owned it. There's no other interpretation of that. Once the bank owns it, there's no way for it to 'become' a short sale. A short sale is an indication that the SELLER still owns it, and is selling it for less than they owe the bank.

I think there's a giant misunderstanding here.
Flag Thu Aug 2, 2012
Of what I was told before signing my offer...the house was listed for $99,000. I made the offer for $50,000 in CASH. The Original price I was told was a foreclosure price and my offer makes it a short sale. Come to findout later there was and still is a sheriff sale on this property. I attended & watched as the realtor's "Loan Officer" bid on the property & the sale was adjourned to August 10th. The Realtor never in writing sent me anything that may suggest the seller breaking contract nor ANYTHING in writing. He also states he had no clue to the sheriff's sale that was listed for sometime. When I was told.... it was mid day, the day before.
Thanks for all replies!!!
Flag Wed Aug 1, 2012
Alan May, Real Estate Pro in Evanston, IL
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