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?

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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 8 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.


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