Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago on .

User Stats

1
Posts
0
Votes
Thuy Nguyen
0
Votes |
1
Posts

Counteroffer in short sale and bankruptcy fees

Thuy Nguyen
Posted

My offer for a bankruptcy short sale was accepted by the seller. Then the lender got an appraisal months later and countered with a higher price. Then today, I received copies of my purchase contract that was signed by the trustee at my original price. Is it legal for the lender to counter if the trustee has already signed a purchase agreement? Before I knew about the signed contract (it was mailed to me), I countered with another offer. I still have not heard back yet, but I'm just curious if anyone has heard a bank doing this after the purchase contract was signed? 

Also, in the documents mailed to me, there was an escrow breakdown and they are charger me (the buyer) a bankruptcy surcharge to the Bankruptcy estate of the seller. Why am I getting charged for his bankruptcy? It's over $13k. Is this legal too?