Hello Stars! This is a great group!

Let me explain the mass we are in. I have been through a lot with my short sale cases but nothing like this. Crazy...

I represent a buyer in a short sale case and we finally got an approval letter from Citi after waiting for several months. Then, the seller suddenly turned saying the closing date on the approval letter is too quick and does not want to close that early and is now informing us that he does not want to sell anymore. He is refusing an access to his home so we weren't able to get appraisal or termite inspection required by the buyer's lender. He stopped talking to his agent and hired a lawyer after our email indicating the buyer seeking legal assistance. The listing agent says he lost control and can't reason with the seller anymore. We even offered a rentback for a month as allowed by Citi.

Just found out that the house has been on a short sale for over two years so, the seller is basically living in it for free over that period. Our contract is 4th or 5th offer they have submitted. The seller has already done a short sale before with the house on his wife's name and turned around to buy another house with his name. Then, stopped paying mortgage only a few months after the purchase. I can't prove this yet but they are planning to list the house again with a new listing agent soon. (Based on what I heard from their friends) I know taking him to court is an option but the approval would be expired by then anyways plus they are broke so probably can't pay for judgement. The sellers obviously know the short sale system and taking advantage of it.

So my question is can Citi help? I cannot believe the Citi is letting the seller take advantage of the system for so long. How can I ask Citi to tell the seller this is their last offer the Citi will be accepting. Or even better yet schedule a foreclosure a week or two after the approved closing date so they know thwy cannot live in the house for free anymore. Any shine on the issue would be appreciated. THANKS!!!

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MOVE ON!  You are not going to force someone to sell their home.  He is playing a game and will win.  Citi has nothing to do with this.

i concur. w/o the full cooperation of all owner(s) you are going nowhere fast.

or wait and try to purchase as an REO.

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