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Expired Offer

Posted by Kristen tateosian on April 18, 2012 at 8:30am in Short Sale Discussions

We are the buyers on a short sale...5 months in and nothing in writing from the bank...My question is our original  purchase agreement and short sale addendum have expired...do we need to renew them?... Our agent and the listing agent says we are fine for now..but can they technically give the house to one of the back up offers without our knowing? What do you usually do for your buyers in this case?

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Replies

  • Bryant Tutas April 18, 2012 at 8:46am

    Yes you need to renew them. An expired agreement means you have nothing and the seller can sell the property to anyone else if they choose.

    • Tamara Vannest > Bryant Tutas April 18, 2012 at 1:50pm
      Not to highjack Kristen's original question but we are also buyers about 5 months in on a short and have twice extended our "close by" date via an addendum but have not received either of those two addendums signed back by sellers. Is that normal? Without their signature back are we technically expired or are we still okay since we signed the addendum?
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