Updated about 7 years ago on . Most recent reply
short sale questions from newbie...
I'm looking at a house to live in. Potential short sale- owner received notice of sale last year, house on market for a while, in a really nice neighborhood. Our offer was accepted by them, and they originally signed the P&S, then there were some delays once the BPO came in. He's been living in the house for almost 10 years (20 in total), just paying interest on the loan (~2k from what I can tell). He and ex wife signed the original P&S, but we extended settlement to accommodate any issues.. now, they've gone totally dark on the RE agent. SPS owns the note, I believe, and wondering what happens next. can he just keep playing this game? At some point, will they kick him out... or does that take forever? I'm so in the dark. Appraisal came in low 900k (needs a lot of work, about 150k that we showed estimates for), and he owes about 875k. our accepted offer was 775k, but changed it to 800k to make it look better. RE agent sent them an email saying she couldn't work with them if they continue this, as it wasn't fair to us. Is there any way to find out more information?!?