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J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2192
Experience:  Experience in residential real estate and commercial leases.
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I purchased a short sale home in Las Vegas and after 6

Customer Question

I purchased a short sale home in Las Vegas and after 6 months of jumping thru hoops the bank decided to cancel.
Do I have any legal rights?
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  J. Warren replied 3 months ago.

Hello and welcome! My name is ***** ***** I am an attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

I am sorry you are dealing with this situation. Unfortunately I do not always get to give good news when answering questions on this website. Buying a short sale is very risky and the buyer has little to no recourse when the transaction does not close. If a lender/bank decides to cancel the deal (which I have seen on the day of closing) the buyer is left with all the expenses and fees associated with the inspections, appraisals, etc.....

A short sale is not a traditional transaction where a buyer has a potential to sue the seller for specific performance and therefore can be left with many out of pocket expenses without the ability to recover their costs other than return of their earnest money.

I am very sorry this has happened to you and certainly understand your frustration. You can always file a complaint with the Consumer Financial Protection Bureau: While this will not get your costs returned but the CFPB will investigate and may issue a fine based on enough consumer complaints.

All my best and encouragement. Thank you for allowing me to help you with your questions. I have done my best to provide information which truthfully addresses your question. Please note: If I tell you simply what you wish to hear, this would be unfair to you. I need to be honest with you and sometimes this means providing information that is not optimal. Negative ratings are reserved for experts who are rude or for erroneous information. Please rate me on the quality of my information; do not punish me for my honesty. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time.

Expert:  J. Warren replied 3 months ago.

Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question because you never responded or replied positively. Pressing a positive rating will not cost any additional money - it is simply the trigger used by Just Answer to pay me for my time (pressing the middle star or the fourth or fifth star on the right are all positive rating buttons). I am simply touching base. Let me know. Thanks!

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