Submitted by almac508 on Sun, 08/07/2011 - 10:02
Posted in
I have a signed P&S and closing on August 26th,now the homeowner is asking for $3800 for a re-location fee and claims if he dos not get this he will not be able to move into his new apartment. This is a short sale that has bank of America approval and I have met all the requirments of the contract up to now including to pay off a $5,000 lein he has against the house. I refuse to give him any more money for so called re-location and want to know how to proceed. appreciate any help with this . thank you
Short sale
As you no doubt are aware by now, short sales are bit different than typical real estate sales and often produce interesting issues. However, once the bank has signed off on the deal and the purchase and sale agreement becomes binding on the parties, there should be no last minute demands or changes. In other words, you may be looking at a breach of contract situation and may, if the seller continues on this course, be able to collect damages and/or seek specific performance. I can't tell you what you should do, other than have an a real estate attorney look at the contract and determine how you should respond to the seller's demands. Good luck.