Purchased a 'short sale' property at the offered and advertised price, did the homework and put 10% down, seller and her agent signed the contract. Later the seller wanted an additional 10% on the 'selling price', I needed a home, I am 70 and retired on SS, and this fit my needs. Seller and her agent signed the new amended contract and her agent give me a 'Closing Date', assuring me that all was approved. I then put my home for sale and purchased a moving van, and sold off all my excess property in an effort to increase my net-worth and 749 credit score. My house sold, I packed it out and moved to relative's home in AZ, waiting for the April 13, 2013 closing in Nevada. Two days before closing, they backed out and said that the lender was going to 'Foreclosure', leaving me high and dry. It is now May 12, 2013 and the house is still being advertised all over the MLS for the 'ORIGINAL' selling price.
Thus. two questions. One is how many 'deposits' can a seller accept on a 'short sale' home. Seems to me that this home is being used by the RE's as a 'bait and switch' or has nearly 200 offers on it, each with a deposit of 10%.
Second, since it now appears that the 'seller and her agent' had no authority to offer the house at the 'short sale' price, is this fraud? They lied about the 'Notice of Default' and misrepresented themselves as being the 'sellers', and having authorization, pre-approval, to sell at the listing price.
Thanks.. Out $18,000 over this mess.