i need to talk with someone who knows what i am going through. FIrst of all i have a deal for a purchase price of $110000 and i have negotiated with the mortgage company to accept a short sale, we already have a contract dor 110000, supposed to close in ten days, tommorrow is the tenth day and we have not heard fro the closing attorney, yet. The buyer vebally told us he would close in ten days, but made some excuse about the title coming may be needing more time, so he put June 4th on the contract. He thinks the propery is going to foreclosure, but i had it stopped, what recourse do i have if he is just holding out, to lock us in to not selling, in the hopes of buying it on the courthouse steps, since we know, it will not go to foreclosure, should we seek a back-up deal so that we can not close with him on the fourth, and close with a better buyer. I am sorry, but this guy seems very shady since he would not put those terms in writing. isn't it illegal for him to intenitonaaly stall to get the home at foreclosure? what is my recourse? The mortage company needs a settlement statement and a copy of the contract. I am wary of him findingout that their is no sale, because he has agreed to rent it back to the owner, but we dont want to work with him anymore.i negotiated a shortsale of 86000 the principal, and our contract is for 110000, how do we make sure the seller gets the difference, without having tax penalties in the future? I would hat to think theywould come after her after the agreement.Help!!!!!!!
I aslo have six more homes to sell, i feel a bit overwhelmed. i want to do a good job, however, people are very bad. I am open to all suggestions.
Thanks so much as time is of the essence,