Asked by Jen, Forest Hills, NY • Thu Nov 29, 2012
I am currently in the process of buying a condo in Valley Cottage, NY. We entered into the contract as a regular purchase and the seller's attorney stalled getting us back the executed contracted, our attorney found out that the contract was with the seller's bank and that he owed the bank more than he could pay. The bank refuses to negotiate and now we have to enter a short sale application. We found that the property listing was posted 67 days ago as a pre-forclosure. We believe the seller's attorney and listing agent deceived us in not disclosing the nature of the deal and we entered into a situation not knowing this wasn't a done deal or could drag on for months. Now we are moving out of our home with no place to go. What if any are our legal rights? I was led to believe that the listing agent needed to disclose the property is a short sale. PLEAS HELP!! Thank you.
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