What options do I have if any if listing agent went against the process of the signed forms.

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What options do I have if any if listing agent went against the process of the signed forms.

I am trying to buy a short sale house. I was the first to make an offer and the seller signed. We all signed a form stating they are only to accept “back up” offers. After a month of waiting to get a response from the sellers bank the listing agent tells us the bank accepted another offer. We mentioned he was not to do that and said he told us he would be accepting other offers never happened. We have a legal binding form stating he is only to accept back up offers.

Asked on March 16, 2012 under Real Estate Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Unfortunately due to the many short sale matters that are happening in this country, most likely your offer to purchase the property that you are writing about as a short sale was subject to the lender approving the offer you submitted which it did not. In California there is a specific form called a "short sale addendum" that the possible buyer and seller in a short sale must sign as part of the offer and conditional acceptance stating that the lender(s) on the property ultimately have the say on who ends up buying the parcel.

I suggest that you consult with a real estate attorney after you carefully read all paper work you have concerning the offer you made on this house.


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