Hi,
I am currently purchasing a house. I just received pre-approval from the bank. The house is a short-sale property. The seller's attorney has created a problem saying that the contract states that we should have done the closing in 45 days and since we didn't he will be taking $2,500 from us. You have to understand that we have been waiting 9 months to hear back from the bank after we gave our offer. As soon as we heard back, we started looking for a mortgage. We did have some problems but we asked for an extension for the closing. My attorney even drafted a document requesting for an extension, which he sent to the seller's attorney. At this point, the seller's attorney wants to take $2500 from the money that is in escrow. I think this is very unfair and unjustified. As far as I have researched, what he is doing is illegal. Please let me know what you think. Thank You so much for your help.
I am currently purchasing a house. I just received pre-approval from the bank. The house is a short-sale property. The seller's attorney has created a problem saying that the contract states that we should have done the closing in 45 days and since we didn't he will be taking $2,500 from us. You have to understand that we have been waiting 9 months to hear back from the bank after we gave our offer. As soon as we heard back, we started looking for a mortgage. We did have some problems but we asked for an extension for the closing. My attorney even drafted a document requesting for an extension, which he sent to the seller's attorney. At this point, the seller's attorney wants to take $2500 from the money that is in escrow. I think this is very unfair and unjustified. As far as I have researched, what he is doing is illegal. Please let me know what you think. Thank You so much for your help.
