Of course - unless there was some unusual agreement you signed as part of the short sale, but that's unlikely. The question is whether you can get the loan which after 2 years may certainly be possible. Contact your mortgage person or I or someone on this board can assist you in finding someone that can quickly and definitively answer that for you.... more
lender had income and credit report2nd week in January 2013 granted preapproved loan for 72200 any info realtor or lender ask for I did produce in a timely manner. Realtor stated hud would need $1000 down I mailed it in a certified check next lender sent papers to sign involving estimate on work to be done on the home in order to bring the home up to code, I noticed the estimate did not show estimate on plumbing or roof needs to be sealed nor any estimate on electrical repairs that was stated in the inspection report.203k loan on repairs are $23319 . lender only use the first credit report when I first applied and was aware of income, why would realtor and lender put me through turning on water, electric, pay for inspection and apprasial knowing of my income Right now am out of $1900. I later found out realtors do have courtesy turn on accounts with the water company and electric co. my realtor said she could not help me I would have to do that on my own in order to get the house inspected is there anyway I could get my money back the only money that is offered back to me is my $1000 deposit I gave the lender monthly income $1249 lenders put down income $1691 monthly income is that illegal for a lender to do? I do feel there is some wrong doing please give me advice as to handling this situation. Aleiaue Ramirez... more
I would suggest immediately canceling the insurance policy. It's hard for anyone online to really comment on what happened as we don't have all the facts, however I think it's highly unusual that the lender ordered the insurance policy to begin with. IF there's any amount owed I would demand they pay it as you didn't order the policy.
Depending on the circumstances I might also consider filing a formal complaint against the lender with your state banking commission, Secretary of State (they over see the lenders license), and possibly your state Attorney Generals office.... more
Your offer should state an expiration date and time. If the seller has not responded, then you are free to move on. Before you do, though, be sure to reach out to the seller (or his agent if he has one) and say something to the effect of, "Since I've not heard from you, I assume that we're done." That may get the seller's attention and push him into action. Good luck to you!... more
Are you entitled to the deposit money? Mostly likely YES!!
Is it worth the hassle to retain the deposit? Most likely NO!!
Much of it is spelled out in the contract that was signed. You may have rights to the money. Most standard contracts will say default of the buyer is limited to deposits tendered. The problem arises that as an escrow agent (real estate brokerage), we can not release any funds to one party or another without consent of both parties.
Quite simply, if the buyer signs a release, handing over the funds it is nice and simple. If they don't, you are talking about hiring an attorney to get the deposit money if it can't be handled in small claims court. Minimally you are probably looking at $2500 in attorneys fees. If your talking about a minimal deposit, its probably not worth going after.... If its under $2000 you can probably go to small claims court.
Meanwhile, if you are retaining a deposit that is in question it may hold up selling your home. It may be best to move on and just get your home sold.
I am definitely not an attorney and in no way should you see this as legal advice, but this is how I have seen things play out before. If it is important to you to retain the deposit, seek the advice of a real estate attorney.... more