Legal Question in Real Estate Law in California
Short sale
My husband and i had our home listed as a short sale. We had an offer that signed off on and it went before the lender, in turn they denyed it(too low) Then the buyer made a second high offer. We the sellers denyed the offer and never sent the offer before the lender. We found our lender approved us for remodification on our loan which would allow us to hanng tight till market turns around and not short sale. We signed no escrow inst or theyre second offer. they want to force us to sign the 2cond offer and submitt to lender and sell. or sue us. Do we have to?
3 Answers from Attorneys
Re: Short sale
Based on what you've written . . . NO!
Re: Short sale
Go to the lender and tell them the situation . If they would have rejected that offer, have them make a declaration that they would not have approved the sale and send that to the buyers to show they whatever you did or did no do does not matter as the offer would have been rejected by the bank.
If they still persist, point out that they knew it was a short sale so any offer they made had to be first approved by the Bank and it even do so if it was above the among you had said you wanted. You can also come up with reasons you would not want to sell the property to them.
Re: Short sale
Not fromwhat you tell me, but you better have an attorney review all the paperwork.
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