Short sale rules

David Hardy

New Member
I sold my home by shortsale 3 years ago. Subsequently the buyer subdivided the property into into three parcels. He only mortgaged the parcel with the house on it. He sold the two vacant parcels to raise capital to repair the roof, which had been destroyed by a family of racoons. The buyer of the 2 vacant parcels wants to sell them after owning them for three years. Because of the 60 year family history on the property, my son would like to purchase the two parcels and possibly build a house there someday. My family lawyer believes that the short sale was an arms length transaction and that my son has a legal right to purchase these parcels from this third party that currently owns them. I would appreciate another informed opinion.