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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 38181
Experience:  16 years real estate, Realtor. Landlord 26 years
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I live in Maryland. In 2013 I sold my house as a short sale.

Customer Question

I live in Maryland. In 2013 I sold my house as a short sale. My house has now come up for sale recently. Can I repurchase this house or am I restrained by the Buyer's Affidavit of "Arm's Length Transaction". The present owner is the person we sold the house to. I thought after a certain number of years there was no restriction.
Maria
Submitted: 11 months ago.
Category: Real Estate Law
Expert:  Barrister replied 11 months ago.

Can I repurchase this house or am I restrained by the Buyer's Affidavit of "Arm's Length Transaction"

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There is nothing that would prevent you from buying the house back from the person who bought it in the short sale. The "arms length" restriction is based on the original short sale to a buyer who has no connection with the owner who is short selling.

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After the buyer buys in the short sale, then there is typically a restriction of 30 or 60 days where they can't resell the house. But after that, they are free to sell to whoever they like. And if we are talking about over 3 years later, then there is nothing that would prohibit you from buying it back.

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thanks

Barrister