Replies to This Discussion

Permalink Reply by Jeff Payne on January 18, 2011 at 7:12am

the bank has nothing to do with this, they are not party to the contract, their job was to release the lien so that you can close.   The sellers would have to make it right but don't count on it.

Permalink Reply by Susan Neal on January 18, 2011 at 7:32am

I don't think you'll get any help from the bank. They have likely lost a ton of money on the deal already.

If the sellers took the blinds they probably still have them and you can demand that they be returned. If they have sold them, they may have the proceeds of that sale.

Contact the sellers' agent and/or the sellers ASAP and remind them of the terms of the contract.

Permalink Reply by Wendy Smith on January 18, 2011 at 7:58am

wow Janice, sorry that happened to you but in the real estate world, we Realtors see unscrupulous buyers & sellers all the time.  The bank won't do anything for you.  Small claims isn't even worth it.  

 

Susan suggested contacting the seller's agent - she might be on to something there....

If  you didn't have a buyers agent, was the seller's agent acting in a dual capacity (dual agent)?  If so, then part of the seller's agent responsibility was to you - and your pre-closing walk thru (standard clause in a lot of contracts)

Who prepared the contract etc for you to sign?  Look on your closing statement - page 2 - top of the page - how was the commission disbursed?

 

Permalink Reply by Jennie Blackburn on January 18, 2011 at 8:08am

Sorry, but the bank has no legal relationship with you. Therefore, you only have recourse against the seller.

Permalink Reply by Kari A. Battaglia on January 18, 2011 at 8:44am

Janice - Curious if you did a walk through before you closed on the property?  The bank does not get involved with contract issues, they only give sellers permission to sell the home for less than what is owed. I would discuss this with the buyers agent you worked with during the short sale process or their manager.  They should be able to guide you on the options available to you.  Thanks, Kari Battaglia

Permalink Reply by Steele V. Propp on January 18, 2011 at 8:54am

The bank didn't sell you the property or take the blinds. Your problem is with the sellers. The bank is a third party to the transaction, not a principal.

You can approach the bank but it probably will get you no where.

Sorry.

Steele

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on January 18, 2011 at 9:17am

Unfortunately, this is the risk with Short Sales, especially when the seller does not take ownership of their own situation.  As others have said, the bank simply approved the amount of LOSS they were willing to accept.  The have nothing to do with the actual transaction between you  and the Seller.

 

What does your REALTOR say?  I hope you had your own representation and didn't use the Seller's agent on your side as well......

 

If you got a good price, then window coverings should not be a big deal.

 

Best of luck,

 

Thom Colby

Broker

Newport Beach CA

Permalink Reply by Jennie Blackburn on January 18, 2011 at 10:18am

That's a good point, Tom.   You can get perfect condition or low price, but it's hard to get both.  But it's hard to for buyers to shake loose of their perceptions, which are grounded in the traditional sales process.

Thom Colby said:

Unfortunately, this is the risk with Short Sales, especially when the seller does not take ownership of their own situation.  As others have said, the bank simply approved the amount of LOSS they were willing to accept.  The have nothing to do with the actual transaction between you  and the Seller.

 

What does your REALTOR say?  I hope you had your own representation and didn't use the Seller's agent on your side as well......

 

If you got a good price, then window coverings should not be a big deal.

 

Best of luck,

 

Thom Colby

Broker

Newport Beach CA

Permalink Reply by Kathleen Lordbock on January 18, 2011 at 5:49pm

Unless they were specifically asked for in the purchase agreement- they are not part of the deal even if they were listed on the MLS as going with the home. The bank has nothing to do with any of this- do not even go there.

Permalink Reply by Rick Trono on January 19, 2011 at 10:33am

Kate,

Would close knowing that you are bumping up against the short sale lender's closing date ? 

 

Kate Edwards said:

Sorry to hear about this!  I represent buyers who purchase short sales, I am closing on one today, I am doing the final walk-through one half and hour before they take ownership/possesion of the home to make sure the condition has not changed, if it has then we will not close escrow, Did you do a final walk-through on the property?  Were you represented by a buyers agent?

Permalink Reply by Dominique Van Ryckeghem on January 19, 2011 at 4:49pm

 

The bank is a beneficiary in this transaction and not a principal to the contract.

Small claims it pretty much your only option but even if your clients get a judgment, how will they collect?

It seems maybe the listing agent dropped the ball on this one.

Permalink Reply by Debra Enos on January 19, 2011 at 10:02pm

Sorry to hear that.  The bank didn't sell you the house, they just approved the short sale, so they are out of the picture.  Have your agent contact the sellers agent and see if she can get the window treatments back.  As far as the house being left in a mess, sadly it happens sometimes on short sales, mostly because the sellers are upset.  I even seen it on standard sales.  You said that the carpet was 'trashed".  Do you mean dirty, or damaged?  The sellers agent should have been closer in touch with their clients.  Again, go to your agent and see what she can work out with the sellers agent. 

 

Good luck and congratulations on your new home.