What to do if the bank messed up my short sale?

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What to do if the bank messed up my short sale?

I went to mediation where the bank, their attorney, my attorney and myself were present. At mediation, they requested more information. We submitted it to the bank’s attorney the next day and then waited. I followed-up with the bank a few weeks later and they said my short sale had been kicked out of their system because my realtor failed to input information that they had requested from him. I asked for the realtor’s name and it was some guy that had no relation to my deal. Either the bank or bank’s attorney messed up. I just got court papers for Summary of Final Judgement. Do I have any recourse?

Asked on September 19, 2011 under Real Estate Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If you do not have an attorney representing you in this dispute over a failed "short sale," you should retain one since it appears that you are in litigation since you were recently served with a motion for summary judgment. Opposing such a motion where the filing party seeks to "try" the case on papaer in that there is allegedly no triable issue of material fact is a complicated piece of pleading to respond to.

Is your former real estate agent named in this litigation? The reason is that your question's facts references that he failed to provide information requested of him and this might be the reason why the short sale did not close.

The issue is what really happened for the intended short sale to not close. You need to realize that a lending institution is typically not required to agree to a short sale where its loan would not be paid in full.

Yiu need to speak with your attorney representing you in this lawsuit and if you do not have one, you need to retain an experienced real estate attorney.

Good luck.

 


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