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Short sale/contract question
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HotAir
LIF Toddler
Member since 8/09 391 total posts
Name:
Lisa
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Short sale/contract question
We signed a contract the first week of September. The sellers appear to be going through a divorce. The husband signed....the wife still has not. According to the real estate agent, their attorney has made several attempts to contact her but her voicemail is full. He even went to her house twice and can't find her.
What would you do? I'm technically not in contract yet since they haven't signed although I forked over half the downpayment (they didn't cash yet).
Would you back out now and look for another house? Will my lawyer charged me anyway?
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Posted 10/3/09 7:52 AM  |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: Short sale/contract question
We actually had a similar situation. Since it is involving a divorce it can get nasty and the husband cannot sell the house without her signing all the papers. We walked away cause it got very messy.
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| Posted 10/3/09 8:38 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Short sale/contract question
is it a short sale too?
b/c you wouldn't be in contract with out the bank approval either in that case
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| Posted 10/3/09 9:34 AM |
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HotAir
LIF Toddler
Member since 8/09 391 total posts
Name:
Lisa
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Re: Short sale/contract question
Yep, we aren't in contract because the other seller didn't sign and we don't officially have the bank approval either.
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| Posted 10/3/09 3:44 PM |
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NASP09
...
Member since 6/05 6030 total posts
Name:
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Re:
Message edited 3/4/2010 3:43:29 PM.
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| Posted 10/3/09 5:39 PM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: Short sale/contract question
I would walk away.
If and when she signs, you are only half in contract. you still have to wait for the bank approval to be 100% in contract for that house.
my attorney will only charge me when he has contracts in hand and actually starts doing work. I don't know what work your's has done so far to answer your question about him charging you.
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| Posted 10/3/09 8:38 PM |
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