I am the intended buyer of a home that is being sold via a Wells Fargo short sale. I am turning to this group because I’m looking for some answers regarding the short sale denial. Below is some background.
- The short sale was out of attorney review in July and submitted to Wells Fargo
- We received notice on September 8th that additional paperwork was required. We signed it, gave it to our realtor and it was submitted the very next day.
- We had our lawyer follow up with the sellers lawyer last week just to see what the status was. The sellers lawyer in turn writes back and tells us the short sale was denied on August 30th and their client is not going to pursue the short sale further.
My questions are, if we were contacted on 9/8 for additional paperwork and it was submitted does that void the previous denial and leave the seller in breach of contract? Don’t we, as the potential buyer deserve to know why it was denied in the first place?
Thank you for reading. Any help would be greatly appreciated.
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You are describing a very frustrating situation. From your post it appears attorneys in your area were negotiating the short sale. Short sale negotiations require loads of timely paperwork and constant follow up. In my state the realtor's negotiate and followup with the banks.
Move forward and look for another home to purchase. Sorry.