Legal Question in Real Estate Law in New York

I'm am in the process of purchasing a short sale. I have signed the contract for sale, there were 2 banks involved and both have agreed to the short sale. However, it was just discovered that the seller is now claiming bankrupcy and has not signed the contract. From my understanding the seller has a deficiency judgement already in place from the 2 bank involved and is meeting with their bankrupcy attorney. What are the ramifications and what are the chances that this deal might actually close?


Asked on 9/14/10, 2:10 pm

1 Answer from Attorneys



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