Can I close on an approved short sale without the seller’s cooperating?

Get Legal Help Today

 Secured with SHA-256 Encryption

Can I close on an approved short sale without the seller’s cooperating?

I have signed short sale contract for property. The lender approved the short sale last month. I had an inspection and appraisal done shortly after loan approval. Today I hear from my agent that the sellers refuse to sign real estate disclosure documents. Reason unknown. I don’t know what to do neither my agent. I have already invested $1,000. What should I do?

Asked on October 5, 2011 under Real Estate Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Has the seller signed a contract for sale? You indicate that the seller has...if so, you can bring a lawsuit to force him or her to carry through on the contract (which is called seeking "specific performance" of the contract). Contracts are enforceable; if there is a signed contract, the other side may only avoid performance if 1) there is some reason under the contract to not perform (e.g. the deal had to close by Sept. 30 in the contract, but you didn't get everything taken care of until Oct. 2); 2) the contract becomes impossible for some reason (e.g. the seller discovers he or she does not have good title; or the home is foreclosed on; or there's some court order preventing the sale); or 3) there was some significant fraud, misrepresenation, or mistake in forming the contract. Otherwise, a signed contract should be enforceable...you should consult with a real estate attorney about this. Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption