Home Buying in Suwanee>Question Details

Tgentry, Home Buyer in Suffolk, VA

we have a contract on short sale. Pd for appraisal and HO insp. Now told that short sale has expired. What does that me to us?

Asked by Tgentry, Suffolk, VA Mon Jul 23, 2012

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Hi Tgentry,

We need a little more clarification on 'short sale has expired' before we can answer this question accurately. Do you mean the listing has expired? Do you mean you had both the sellers and the seller's lenders approval of the short sale and the closing date has passed?

Shanna Rogers
SR Realty
0 votes Thank Flag Link Mon Jul 23, 2012
We have a radified contract with seller & their lender. Closing date was scheduled for 7/17/12. A few days prior my realtor called and told me the sellers paperwork on the short sale agreement had expired. He now is trying to get us to look at other properties. We have already paid for an appraisal and homeowner inspection. The sellers are now divorced and its unfriendly. I'm told they have to start process over for the short sale. thanks
Flag Mon Jul 23, 2012
I do not understand how the SHORTSALE has EXPIRED?

Did it give a date on the Contract?
Was the Contract APPROVED/ACCEPTED by the Bank?
You understand that that is necessary?
That the HOMEOWNER needs the acceptance of the Bank?
Did you read the Contract?
Do you have a Realtor representing you?

It sounds like the answer to all of these is, NO!
0 votes Thank Flag Link Mon Jul 23, 2012
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