Orig List

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Lenders KEEP raising asking price of house...WHAT do we do?!?

So we are in the process of buying a house right now. It's a short sale and orig. listed as 130,000 on Coldwell Bankers & Century 21s website but when we talked to the agent she said it was supposed to be 150,000. We offered 140,000 and the bank accepted the offer. A couple weeks later our lawyer who is dealing with the bank called and said the bank will now not accept ANYTHING under 155,000..so we accepted the 155,000 as our FINAL offer. Now we have a closing date of Feb 26th and we got a call from our lawyer saying the second lender now wants 15,000 more! Can they even do this!? Any advice?

Apparently you have a verbal acceptance on your $140K because they came back later and wanted $155K. All real estate agreements must be in writing to be enforceable, so I hope the seller has signed the $155K offer. Now it sounds like there is a second mortgagee (lender) in the picture. In a short sale all mortgagees must agree. Here's a possible scenario; you can't come to an agreement with the second mortgagee, however you are legally bound to perform under the executed contract with the first mortgagee. At the very least you loose your deposit. You need to ascertain why the second mortgage wasn't disclosed by the listing agent. Your agent and your attorney needs to talk to the listing agent. The listing Realtor may have violated Article 2 of the Code of Ethics and Standards of Preactise of the National Association of Realtors, which says in part "Realtors shall avoid....concealment of pertinent facts...." Your lawyer needs to earn his fee and get these answers for you.

realtor.sailor

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Hitachi Seiko NK20 Lathe Original Parts List Manual Lot  59
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Logan 200 210 Original Parts List Lot 78
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Original Vintage 1951 Jones  Lamson Turret Lathes Instruction Book Parts List
Original Vintage 1951 Jones Lamson Turret Lathes Instruction Book Parts List
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