I have a contract on a bank owned property and signed an addendum with my bank on June 9 th to have the

Asked by Dabatteryman, West Palm Beach, FL Fri Jun 12, 2009

closing on or before June 15th. I just found out by accident that the listing agent put the home back on the market for 40,000 less than what my contract price is on the house.... I want this house and was ready to close in a few days. My bank tells me that now the seller has to honor the new price is this true? I am very upset and shocked as I was expecting to close on this property on the 15th...3 days away.

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Teddy Jagess…, , Wellington, FL
Tue Dec 1, 2009
The Bank Counter Addendum allows the Bank to pull put at any time in most cases. It is always subject to The Investor approval.
Web Reference:  http://mypbchomes.com
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Louise Warri…, , Lake Mary, FL
Sat Jun 13, 2009
Good morning--The facts as you state them don't seem right. If you have an executed contract with the bank that owns the property, with a mutually agreed upon closing date, then it doesn't matter what the listing agent puts in the MLS. Your bank is wrong to tell you that the seller has to honor the new price (what if the listing had a typo?) Are you sure that it's "back on the market" or might you be looking at an old or inaccurate website?

Don't panic. Contact your agent to get to the bottom of this. The listing agent will answer these questions, and since it's so close to the closing date, your agent should be able to contact the title company doing the closing and get more information (if the listing agent is unavailable).

Best of luck.

Louise Warring
Coldwell Banker Residential Real Estate
0 votes
Frank Olguin, , Fort Lauderdale, FL
Fri Jun 12, 2009
Do you have a fully executed contract? Have you talked to your agent? How do you know its back on the market? Whats the adress? I need more info before I can even attempt to answer your questions.

Frank Olguin
Mortgage Banker
AmericaHomeKey Inc.
500 W. Cypress Creek Rd, Suite 330
Fort Lauderdale, FL. 33309
office 954-771-7715 x104
cell 561-386-9731
pfax 954-379-4469
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