Buyers legal options for a Short sale

Buyers legal options for a Short sale

Ewa Beach, HI · Member since 2017 · 1 post · 0 votes

Can a seller seek legal resolution (short sale) if the seller has delayed signing the closing documents and has traveled out of the country?  Have also made arrangements for the seller to go to the U.S. Embassy to sign document, but the seller now claims they are sick and cannot travel to the embassy.  The buyer will now have to incur additional cost for lodging and to lock in their interest rate for 15 more days.  The bank, which is normally the case, has not delayed any. 

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  • Investor · Chicago, IL · Member since 2013 · 2k+ posts · 1k+ votes
    9y

    Based on experience - I would say NO you don't have any recourse.

    Having said that, please check with your attorney. Rules vary state to state and it also depends on how your contract is written.

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