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Old 09-09-2010, 07:40 AM
 
1 posts, read 1,257 times
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i am buying a short sale right now and am trying to find out the meaning of
"this document also extends the contract acceptance date to within 15 days from the investors approval"
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Old 09-09-2010, 08:17 AM
 
Location: Home in NOMI
1,635 posts, read 2,657,482 times
Reputation: 740
Have you talked to your lawyer, realtor or mortgage loan officer about this? I think that an internet forum is not the appropriate place to ask for legal advice, particularly about a short sale. What if somebody gives you bad advice, like "don't worry about it, it's just a CYA for the bank", then you find out the hard way that you signed up for something you hadn't counted on? Of course it's a CYA for the bank - that's why their lawyers wrote that phrase in there; if there's a problem, you'll pay, not them.

"Short sales" are already troubled properties - you need to work that Due Diligence to iron out the issues. Don't allow yourself to get sucked into the liability vortex by making ill informed assumptions.

Last edited by audadvnc; 09-09-2010 at 08:27 AM..
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Old 09-10-2010, 12:45 PM
 
Location: MN
761 posts, read 3,415,907 times
Reputation: 447
Your realtor should have explained that addendum to you when you signed. I would call him/her.
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