Hi
I am a buyer on a shortsale property in los Angeles.
The file was transfered to NationStar and property going to be Auctioned by Auction.com
My offer is already signed by seller and I was waiting for shortsale approval from BOA that BOA informed the listing agent that they transfered the file to NationStar and shortsale process must start all over with them.
I need to know since I have a signed contract do I have a any right.
I feel that I am being pushed and forced to accept the highest bid that will be on a auction date and my right of doing appraisal and inspection which was in my contract is no good anymore.
Please help me to find an attorney to fight.
Thank you
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Hi Nancy
They would not tell me how long the bidder has to close but NO New purchase contract was sent or uploded for seller to sign.
No one also contacted listing agent.
Hi Asefeh!
As of right now, they are asking for updated documents AGAIN. I have one more doc that I'm waiting on and they'll have everything. So I'm hopeful. Were you able to find out when the bidder was supposed to close? Also, did the seller sign the purchase agreement with that bidder? I'm not sure that they legally can sign another purchase agreement while yours is valid,unless yours has expired.
Keep after them and good luck!
Hi Nancy,
I just want to follow up with you on your file to see if NationStar plan to close the sale with your buyer or not.
With my situation it is 9 days now and my last call to nationstar was on Thursday which I spoked with assistant VP as well as the asset manager manager.
They told me that if the bidder did not close they will offer the property with the highest bid to me.
It is 9 days pasted and the bidder does not look like is closing.
No one contacted the listing agent.
Plz let me know how is your transaction.
Thank you
We do not know what to do but wait.
I'm working a short sale right now that was required to be placed on auction.com. My seller signed all of Auction.com's paperwork, then he refused to sign the purchase contract from the buyer from the auction since the original buyer had been waiting for over a year. So far it has been placed back into equator and it appears that we are moving ahead with the original buyer. Not closed yet, so who knows, but at least it didn't get thrown out of the short sale dept.
Since you did not have an approval from BOFA, your seller will, unfortunately, have to finish the process with Nationstar. Good luck.