Usually the extension request is handled by the attorneys involved in the transaction. I would consult your attorney to see if you are able to put another contract on the property. I don't understand how the seller's bank got involved, unless it was on their loan on the seller's new home. Let me know if I might be able to help. Joanna 773-327-3580
I see people are assuming this was a short sale but I have seen extensions denied on REO sales as well. It's all about numbers particularly the number of closings in a month and if they meet their targets.
This is one of them any tings that can go wrong with a short sale. These banks are complete A-holes. They take 2-5 months to do whatever it is that they do, but then they want everyone else to jump through hoops on everything and cut them no slack.
You just have to start all over or walk away.
Yes, you should be able to buy it if you can take care of the issues that kept the file from being completed the first time.
But, they are not going to accept another offer from you unless you can show you can really close the deal.
Feel free to give me a call or text at 773-732-9123 if you need some help sorting it out.