Unbelievable Short Sale Story Is It Over
This is my first time venturing into a short sale where I made an all cash offer to purchase a property back in April of this year. I have been in constant contact with the realtor/short sale specialist and they assure me on is going well. In July the agent called and said the bank approved the short sale and an approval letter would be sent within 7 days.
Last week I drove by the house to check out the condition. As I pull up I notice the grass was cut, must be a nice neighbor. Then I notice a dumpster in the driveway and a brand new roof on the house. Totally surprised I called the realtor about the new roof. They knew nothing and were surprised about the new roof, but assured me again they are in constant contact with the bank and are within days of bank approval.
On Monday morning I call my attorney, and the building inspector to find out the owner of the property. It turns out the bank authorized the work on the house.
My attorney told me the bank has not taken title yet that we know. They started the process they filed the soldiers and sailors act, and are early in the foreclosure process. The realtor is still optimistic we will receive bank approval.
Is there a chance I can get this house, or is the opportunity gone? How could something like this happen?