Legal Question in Real Estate Law in New Jersey

Re: short sale

No doubt somebody can be made accountable. The question is whether contract damages are even close to being sufficient to make you whole. The problem is that the sellers cannot convey good title to you as things are. Money damages won't get you the house that you like. The lender probably has no reason to convert their secured loan into an unsecured loan and may not even be able to do so and still keep the loan guarantees it might now have. You probably wouldn't be asking the question if the sellers had the cash to pay the deficiency.

There are a lot of ways that this could play out and only a few of them are good for you. I suggest that you get a lawyer who handles real property transactions involved now. There are too many possibilities to list them in this Q&A forum and your voice needs to be heard before it is overcome by events.

My firm handles matters of this type, however it may be easier for you to work with a lawyer whose office is closer to you. (You didn't give your Zip code.) If I can be of further help to you, call or email.

See also: http://info.corbettlaw.net/lawguru.htm

Re: short sale

I have read what the other lawyer wrote, and as usual John is right on.

You need a lawyer who will answer these questions and guide you. If you have a lawyer but that lawyer is not answering these questions, FIRE THE LAWYER. And find someone who is near you who handles real estate and who handles lawsuits (you MIGHT end up having to sue).

If you would like, give me a call; I am in Hackensack (northern New Jersey). I will be happy to discuss

this with you; a brief telephone consultation will be free.

My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.

Disclaimer: Your question and any response does NOT create an attorney-client relationship between you

and this law firm. You can not rely on the statements made by an attorney given over the internet. The

exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.