Seller doesn't want to short sale anymore rather foreclose

[Danielle Prendergast]

Hi BP,

I've had a short sale under contract pending bank approval for 8 months now only to get an email from the sellers agent this morning saying that the seller is frustrated with the wait and just wants to walk away and take a foreclosure as they have already moved out and their credit shot (not sure how).

I am very disappointed and wondering if their is anything I can do to still make this sale happen.

I was thinking to ask the seller exactly how much is owed on the property and if still a good price, buy from seller for exactly what is owed?

Anyone have experience with this?

Thanks!

[Wayne Brooks]

Danielle, please ignore any advice about trying to take over/buy the note, or quit claim deeds. And no, you won't be able to talk to the bank about the seller's loan.