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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 7408
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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GM, I am currently in a short sale where the original

Customer Question

GM, I am currently in a short sale where the original contract date has passed. I have not signed any extensions, the seller is having issues getting the lights and water turned on. The seller also has not removed belongings out of the house. My inspection is on hold until till the power is turned on. My bank says I have to wait until the 28th of this month to walk away without loosing my money. Can you please advise me of my options
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Virginia
JA: Has any paperwork been filed?
Customer: been filed with who
JA: Anything else you want the lawyer to know before I connect you?
Customer: just the documents sent to the bank that we originally started
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  Irwin Law replied 10 months ago.

Short sales are very complex and very often the time frames of the purchase agreement are not met by the seller's lender. They basically control the deal. Without reviewing the P/A agreement, which I can';t do for policy reasons, I can't say why the 28th is the required date or not. It's possible the delay because of the utility issue might automatically extend the time. You can ask the seller and their broker to confirm that your earnest money will be released after the 28th.

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Expert:  Irwin Law replied 10 months ago.

Hello again. I hope that I have provided excellent service and, if so, would love a 5 star rating. If not, please let me know how I can further assist you. There is no additional charge to you for rating me. A bonus is not required, but is always appreciated.

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