Asked by Leslie, Chicago, IL • Sun Feb 1, 2009
the sellers agent on the property who then told our agent that we had to outbid the home by 10k more. So we did and made a contract with our agent. When our agent took the contract in to the sellers agent they got into an argument because it seemed that they had lied about the sellers whereabouts and there being multiple offers on the home. Our agent then called our lawyer who then called theirs and it turned out that the seller had left the country and where not sure if he was coming back (had not left power of attorney etc). So now our agent got ahold of the negotiator from the bank and they stated that there had never been any offers on that property an for us to send them our contract and they would send an appraiser out. This seller owes money to two seperate banks. What can happen in this situation?
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