under what conditions can i request my deposit back waiting on a short sale already 1-1/2 months

Asked by Brownsugaribm, 07202 Thu Apr 7, 2011

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Marie Souza Team’s answer
Marie Souza…, Agent, Centerville, MA
Thu Apr 7, 2011
Contact your Real Estate Agent directly. They can help you withdraw the offer if you don't in fact have a signed agreement. Short Sales take a long time to go through. If it's a good deal, it may be worth waiting for!
Best of luck!
Web Reference:  http://www.mariesouza.com/
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NA, Home Seller, Nowell Court, Springfield, FL
Thu Apr 7, 2011
I assume that you are waiting on bank approval. Since you don't have bank approval yet you don't have a contract and you can simply withdraw your offer. However one and a half months is not that long for a short sale. Patience might get you the home.
Web Reference:  http://sellearth.com
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Joseph San A…, Agent, CLIFTON, NJ
Thu Apr 7, 2011
Short sales are part of everyday Real Estate. I had a short sale close a while ago that took 8 month's. A typical purchase usually takes about 2 month's, so if you really want the house be patient. It does seem that the banks have all these toxic assets on their books but don't go out of their way to sell them.

Some banks are just overwhelmed with the sheer amount of short sales they have to process. To answer your question you can back out of any real estate transaction at any time before signing the closing papers.
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