Legal Question in Real Estate Law in Massachusetts
signed P&S for short sale property, but bank re-list it for sale again
Hi,
Half year ago I made an offer for a short sale condo. The seller accepted the offer with the approval from the bank. So I applied mortgage, did home inspection, signed P&S and made down payment. The seller agent cashed in all checks I paid. However both attorney of seller and buyer cannot get signed document from bank for closing. Everything is suspended. Half year later, suddenly I see the same condo is back on the market again for sale. The price is even lower than I offered. I was told if I need this condo, I have to make offer again.
I paid mortgage application fee, home inspection fee and wasted lot of time for nothing. Is P&S useless? What can I do?
1 Answer from Attorneys
Re: signed P&S for short sale property, but bank re-list it for sale again
A purchase and sales agreement can be binding as it's designed to be. You need to engage a knowledgeable attorney to assist you asap.
We specialize in these type matters.
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