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Updated over 11 years ago on . Most recent reply

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Kruti Shah
  • Los Angeles, CA
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short sale

Kruti Shah
  • Los Angeles, CA
Posted

We bought a short sale property and are in escrow - 7 days away from closing. The sellers are asking for $1500 to move out else they will void the deal - can the sellers do that? Buyers in escrow are not at all protected?? and advise on how to proceed and what I should be aware of as a buyer in this situation?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

With Fannie they did receive a deficiency waiver, and likely $2-3,000 relo money. The agent is putting their license at risk, at a minimum. I personally, would send an email to seller and agent, acknowledging the request, then denying it based on it being fraud, and should the seller decline to close, that info would be forwarded to seller's lender, RE commission, etc. And yes, do your final walk through after seller is out, and prior to closing.

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