What to do if I signed a contract with a realtor for negotiating a short sale but it has taken longer than usual, so now she is asking for more money?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What to do if I signed a contract with a realtor for negotiating a short sale but it has taken longer than usual, so now she is asking for more money?
I signed a contract with a realtor for negotiating a short sale. I paid $8000. The short sale has taken longer than usual, has been rejected once and the bank wants to re-negotiate again. She is asking for more money now. Is this legal since my initial contract is to complete the short sale with no specific timeline or amount of workload?
Asked on September 14, 2012 under Real Estate Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If you are a buyer for real property subject to a short sale approval in writing by the lender, if the lender wants more money for the purchase price you either negotiate a higher purchase price or walk away from the transaction regardless of the fact that you and the seller are in contract.
There is nothing improper from what you have written about concerning the underlying transaction.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.