Short sale, amendment to original agreement, and earnest money helpMy famiy began the process of trying to purchase a short sale on 3/21/21. We depoisted earnest money ($1500) with our own agent's office on 3/26/12. All parties had signed the offer by 4/17, and the seller agreed to our offered price. We have just been waiting for the seller's bank to approve the short sale price ever since. The contract had a closing date of 5/29 listed, with a stipulation that we could terminate the deal within 5 days of that date (5/29). However, the seller's agent sent over an amendment about 2 weeks ago which stated that we would now close within 60 days of the lender's approval. I read through the contract several times and I just don't see any other way out of the contact (unless the lender doesn't approval our offer). If there is no other way out of the deal, could I send over an amendment stating that if the lender does not approve the offer or sign the amendment by 6/13, that we can terminate the offer? Is there legal precedent to do such a thing? Our lives are basically in limbo because of this ungodly slow bank and we are at the point where our rental lease will be up on our current place and the kids stat school on 8/13. We need to find another house that will close on time or risk having to spend a ton of money on getting into and out of a temporary place while we wait for the approvals on this one. The family in the house is a military family and my wife and I are veterans. It is painful to see these big money making banks jerking these hard working families around over a few thousand dollars. Help is appreciated!May 28 2012 - Fayetteville00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.