Asked by Chris, Simi Valley, CA • Sun Dec 28, 2008
Here's the story--bid on a short sale home three months ago. Just found out in Dec. 08 the lender approved it BUT the actual letter of approval was not given to us to give our lender until 8 days after approval was supposedly given. So, now were on the last day when it should be funded per the short sale approval letter. We're not sure it's going to make it. My question is--if monies are not funded in time, therefore canceling the short sale agreement, do we get our deposit back? It seems that 8 days would have been critical for us to get everything done in time. Not sure who really is the blame--there are a lot of other issue with this particular sale as well. Also, we have not removed all contingencies.
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