I'm in escrow on a short sale. 4 months after submitting our offer, seller's lender accepted. We locked in a 4.5 percent loan on 12/07 & it'll expire on 01/07. Last week, we discovered that the seller's realtor has committed fraud because he is related to the seller & that is against the law with short sales. The seller's lender now knows about it and is demanding that the escrow company sign a document accepting responsibility. The escrow company is refusing unless the seller's lender signs some other document (don't ask me what). The seller is now talking about switching thee title company but that will cost ME $2000 because the seller doesn't have the money to pay it. Closing the escrow account and starting all over would cost me even more.
So, do I pay the $2000 ticket or do I take a chance and wait to see if I can buy it at the county foreclosure sale.
My husband and I REALLY LOVE this house & are not really interested in other houses.
So, do I pay the $2000 ticket or do I take a chance and wait to see if I can buy it at the county foreclosure sale.
My husband and I REALLY LOVE this house & are not really interested in other houses.