Cathy sadly this happens more often, most people do not hear about it. Generally it is due to Price, Appraisal Value or the Seller did not satisfy the requirements for a short sale. Unfortunately many buyers find this out much too late or never. Have your agent try to find out. Ultimately time to continue your search for another property.
Prudential California Realty
Beverly Hills, CA
Are you a home buyer or home seller? If you are a home buyer, you aren't paying the commission. You will have closing costs unless the seller agreed to pay your closing costs. If you are a seller, then you will have to pay closing costs and the commission out of your equity unless it is a short sale. If it's a short sale, your lender may end up paying for your closing costs including commissions. Your listing agent should be able to help you get that answered.... more
Janet, Your daughter really needs to take advantage of a free consultation from an attorney who specializes in Real Estate and Foreclosure Law. The absolute best advice I can give is to have your daughter take her notices to an attorney so he can give her specific information about her deadline and foreclosure situation Real Estate Agents are not attorneys and do not give legal advice. At the very least call an attorney and read them the information.
This is a difficult situation and needs immediate and expert attention.
Here is the link to a highly recommended attorney in the area who does free consultations. http://www.curtislawgroup.com/... more