Just had a house with an accepted offer show up again on the MLS. (short sales, buyer) - City-Data Forum

Rick Lee · 08-28-2009, 09:17 PM

What the hell is going on here? This was a short sale we had a seller acceptance on around the end of June. Listing agent is a total bum, never returned our agent's calls. The one time our agent got him on the phone, he said the BPO's were done and a bank acceptance was imminent. Today the house showed up on the MLS again as active and - get this - the description says "full bank approval on 8/27, buyer walked." WTF? We didnt' walk! We had never heard about any approval. Do we have any legal recourse here or can our agent do something about this with the listing agent's brokerage?

Grannysroost · 08-28-2009, 09:26 PM

Quote:

Originally Posted by Rick Lee

What the hell is going on here? This was a short sale we had a seller acceptance on around the end of June. Listing agent is a total bum, never returned our agent's calls. The one time our agent got him on the phone, he said the BPO's were done and a bank acceptance was imminent. Today the house showed up on the MLS again as active and - get this - the description says "full bank approval on 8/27, buyer walked." WTF? We didnt' walk! We had never heard about any approval. Do we have any legal recourse here or can our agent do something about this with the listing agent's brokerage?

Not a thing...the bank must not have like your offer...or are fishing for more now that they are in total control....

I have to ask, with all the info on short sales if you are looking for a house to live in, why are you wasting your time on these...enough other lower priced homes out there that can close...

Rick Lee · 08-28-2009, 09:37 PM

It's listed for the same price we offered and they accepted! We're ready to close!

Grannysroost · 08-28-2009, 09:42 PM

Quote:

Originally Posted by Rick Lee

It's listed for the same price we offered and they accepted! We're ready to close!

You are lucky!

Ponderosa · 08-28-2009, 09:45 PM

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Originally Posted by Grannysroost

You are lucky!

I think he means that for whatever reason his offer was ignored and the house was re-listed with a price the same as the deal he offered. Maybe the bank is fishing for bids above that or they didn't like the financing or some other part of the proposed deal. It's strange out there.

Rick Lee · 08-28-2009, 09:47 PM

Isn't a signed seller acceptance a binding contract? And even more so if the bank accepted our offer too? I can't claim we're out any money here, since the inspection period hadn't yet begun. But I'd like to see this idiot get nailed somehow. I want this house. It's the nicest one by far that we've seen.

Grannysroost · 08-28-2009, 10:02 PM

Quote:

Originally Posted by Rick Lee

Isn't a signed seller acceptance a binding contract? And even more so if the bank accepted our offer too? I can't claim we're out any money here, since the inspection period hadn't yet begun. But I'd like to see this idiot get nailed somehow. I want this house. It's the nicest one by far that we've seen.

Signed seller on a short sale, I doubt is binding, only they are agreeable...If the bank accepted, I would get in print right now! You may not be out money, but you are out time and headache..sometimes that cost is more

Rick Lee · 08-28-2009, 10:07 PM

I don't how we can get a copy of the bank approval, but the lie is right there in the MLS listing. "Buyer walked." Outrageous!

Grannysroost · 08-28-2009, 10:28 PM

Quote:

Originally Posted by Rick Lee

I don't how we can get a copy of the bank approval, but the lie is right there in the MLS listing. "Buyer walked." Outrageous!

Maybe it was a better offer? How long did you wait...needless to say, maybe it is all good now for you, hoping for the best as you would be one in many!

Rick Lee · 08-28-2009, 10:32 PM

Quote:

Originally Posted by Grannysroost

Maybe it was a better offer? How long did you wait...needless to say, maybe it is all good now for you, hoping for the best as you would be one in many!

There has been no other offer. House is listed now for the same price we offered and they accepted. Doesn't a signed contract mean anything anymore? We were never informed of a bank approval and yes, our agent was all over this.