Seller Occupied Short Sales & their Fixtures (real estate, house)

[Med1aNoche]

Hello,
My wife and I are first time buyers. After a few weeks of shopping around we've submitted an offer on a short sale property. I've done my homework, so I know what to expect. However, there is one thing that makes me more than a tad nervouse.

The property is currently owner (seller) occupied. I'm assuming they will be moving out sometime before closing. The house, in it's current state, is clean and beatiful. My concern is that when sellers do move out that they may either trash the place or may take some fixtures.

They don't seem like bad folks, but I know in this situation your emotions can get the better of you. I don't think it's far fetched. If this kind of thing does happen, and we discover on our final walkthrough that some fixtures are missing and that the place has been trashed, what recourse do we have? Can we then back out of the contract? Can we lower our offer? Is the bank obligated to replace the missing fixtures or the new damage?

I love the house, but my offer is based on the propertie's current condition and fixtures. I am thinking about this way more than I should. Your answers and experiences are greatly appreciated.

[smartygurl]

Short sales can take months and months to go through, and only a few of them are actually successful. It would not be wise for the seller to move out of a property beforehand when the sale may never actually close.

[volleyballer]

Your real estate agent should be able to answer these questions for you. Short sales, as I'm sure you know, are extremely long processes. Do you know if the bank(s) are willing to accept a short sale? How long have you been waiting for an answer? Sorry to burst you bubble, but the chances of a short sale actually happening in your favor are slim. And if you do buy, the sale will be "As Is" which basically takes all responsibility away from the bank and the previous owners. The previous owners can take all or nothing; you get what you get. You have the usual 17 days after approval to renegotiate on your agreement, but that's it. After that, the house is yours with the fixtures or without.

[roxyvelas]

It depends on the owners. Apparently the owners of our short sale moved out and hired a cleaning crew to fix it up. Hopefully they are good people and will leave the house in good condition!