California RPA signed last month and Short Sale approved last week. Seller wants to change terms via Counteroffer now. Legal?

Asked by Dan, Upland, CA Wed Oct 17, 2012

Short sale approval letter does not state any specific terms like Buyer needs to pay for Termite inspection, Home Warranty, no repairs to be made, a specific escrow company, a specific title company, instead of 17 day inspection contingency is now only 5 days plus 15 other items...all the stuff demanded by the counteroffer.

It has been a week and escrow hasn't started. Utilities turned off so I can't inspect. Seller won't start escrow.

Do I counter their counter or does that give them an "out?" Do I do nothing? If so, I assume that they cannot randomly cancel the RPA until day 19 (original 17 day contingency plus 2 day NBP)? Options? Lender notorious for never extending foreclosure date (its now day 91 after NOD but no Notice of Trustee Sale out yet).

Help the community by answering this question:

+ web reference
Web reference:

Answers

1
Cindy Davis, Agent, San Diego, CA
Wed Oct 17, 2012
If the seller signed the offer you made, and the lender approved it, the seller can't change anything. Do you have a Realtor? If not, you should, short sales are too complicated to do without. I would suggest speaking with a real estate attorney to see what your options are at this point.

Best of luck.
0 votes
Search Advice
Search
Ask our community a question
Home Buying in Upland Zip Codes

Email me when…

Learn more