Can a bank after accepting the terms of a short sale contract come back and say they do not want to pay the 3% closing cost as agreed?

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Can a bank after accepting the terms of a short sale contract come back and say they do not want to pay the 3% closing cost as agreed?

Asked on July 24, 2012 under Real Estate Law, Florida

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Banks play games all the time in these matters and they know that they have you between a rock and a hard place.  Did they agree to the terms in writing?  Then generally they are bound by them. If they did not then they are still "negotiating" and I would hire ana ttorney asap.  Please make sure that they are waiving the deficiency - IN WRITING.  Good luck.


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