Hi Barry - while I am not authorized to answer legal questions I was thinking you might want to contact the Dept of real estate in Sacramento and ask them.
http://www.dre.ca.gov or you might want to contact a real estate law firm. I did just get a flyer in the mail from another Temecula Chamber of Commerce Member Winton & Larson, LLP who have recently opened an office here in Temecula. The contact is Evangeline J. Larson and the number is 951 - 308 - 1555. She may be able to answer your question.
Did you get your deposit money back? There are short sale buyers who have made offers that have not gotten their money back. Unfortunately, when they read the paperwork they signed from the bank, it somehow allowed that. I think that in a short sale, the banks can make their own rules. I actually stay away from short sales. Look for REO (bank owned properties). I have been hearing about multiple multiple offers going in on these homes and I do not know what criteria they use. The house behind mine was bank owned and went on the market and sold the same day for higher than the listing price and the people moved in less than a week later. They got the house a 4000 + sq ft home for $350,000. There are many amazing deals out there. I am sorry that your experience was rotten. Best of luck with your new search and getting a legal answer.
- Mon Apr 21 2008, 17:19