Kids "bought" a house on a short sale. Loan
was preapproved back in June. August, they hadn't closed, but two realtors said it was a for sure go, just needed to clear up a couple things...move in this weekend, close on Monday. They did. Now it's January, they're in the house, they've done a bunch of work on it...invested a pile in a junk furnace, appliances, general fixes that they needed for loan approval, paint etc.
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Wisconsin Now the owners declared bankruptcy and is looking like they aren't going to get it. What do we do?
JA: Has anything been filed or reported?
Customer: No...they just learned about the bankruptcy a few hours ago...as they are sitting there with the furnace repair guy for the third time.
JA: Anything else you want the lawyer to know before I connect you?
Customer: Can't think of anything off hand. We do have all the emails and messages from the realtors stating this was a "go". The realtors split the fee to keep it out of foreclosure
, supposedly, so that there would be no hitches, yet here we are.