Legal Question in Real Estate Law in Florida
s there anything a lawyer can do to help with short sale process that was accepted by the seller but have no response from the bank. We are the buyer.Property is in fl,we are in GA
3 Answers from Attorneys
Not really. It is in the Bank's hands.
The decision of whether or not to approve a short sale is in the sole discretion of the seller's bank. The only thing the buyer could possibly do is to have a lawyer send a letter on behalf of the buyer to the seller's bank inidcating that the buyer will be terminating the purchase as sale agreement (assuming the buyer has the right to do so under the agreement or the agreement has already expired), in an attempt to put pressure on the seller's bank to make a decision regarding whether or not to approve the pending short sale transaction.
www.balesfirm.com
A lawyer can communicate with the lender on behalf of the owners, but approval of the short sale is up to the bank and does take a long time. It may be good to have legal representation to help you seek out other options and to review the short sale documents or negotiate any deficiency. Regards,
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