bought a home in California in a short sale and I verbally promised the seller I would sell it back to them in a year now I believe them when they s

Asked by robinflittle, Pasadena, CA Mon May 26, 2014

say the bank will deem transaction null and void is this so

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Susie Kay, Agent, Dallas, TX
Mon Jun 23, 2014
Talk to your attorney, it sounds like there's a lot more to this than what you've described above.

Good luck,
Susie Kay, RealtorĀ® & Certified Stager
Residential, Commercial, Investment
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0 votes
Dorene Slavi…, Agent, Torrance, CA
Mon Jun 23, 2014
Oh Goodness!
No one can "force" you to sell property in California, particularly based upon a "verbal agreement". I would not worry about it. What you bought on short-sale is now probably worth much more then you paid.
0 votes
Suzanne MacD…, Agent, Succasunna, NJ
Mon May 26, 2014
You need to talk to an attorney. Having said that, it is my understanding that any contract to purchase real estate must be in writing, so if you are referring to the agreement to sell it back to them, it's not the bank you have to worry about, it's a court of law because the agreement was verbal. There may also be an issue with the bank. Every short sale I have ever worked on required the buyer and seller to sign an affidavit stating this was an arms length transaction, meaning the buyer and seller had no private agreements. So, trying to enforce this agreement to sell the home back to them could also be a problem since it was a private agreement you had on the side. Please consult with an attorney to confirm this is the case. Every State has slightly different laws.
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