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getting out of a accepted short offer sale

I wanted to get out of short sale, my realitor said not to do any inspections or visit the property until it was time to do my 17 day inspection period, that she would call me when it was ok to do so, she never called  the 17 days have passed and now title is asking me to sign the papers and give them a check,  what can I do to back out with out losing my deposit?   I was never told we had and excepted offer
please help if you can? 

  • April 27 2013 - Modesto
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Answers (5)

Best Answer

If you used a standard CAR contract, and didn't waive the inspections and loan, and you have NOT been given a Notice to Proform, CANCEL NOW!... call your agent tomorrow and if that doesn't get you anywhere call their Broker and get done what you need to do to protect your good faith deposit... but unless you signed away your contigencies.. you can pull with no ramification... also contact escrow and tell them to draw up cancellation insturctions and ask for your good faith money back... then find a new agent and go get a new property.... the market is ripe and money is soooo cheap...

Good luck
  • April 28 2013
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Thanks Michael
  • April 28 2013
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If your agent screwed up and you end up losing the deposit, your agent carries errors and omissions insurance. You may need to sue the agent to claim damages, but (depending on the size of the deposit) you may be able to do so in small claims court or through arbitration. An attorney could help you make the decision about filing a claim against the agent.
  • April 28 2013
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Thanks to both of you for your kind advice
I wonder if I was not contacted to lock me in? for fear of losing my good faith deposit?
  • April 28 2013
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It sounds like somebody dropped the ball on this one, user3100752. What did your agent say about missing the inspection period? It is possible that the bank did not notify your agent of the accepted offer. Can't really say as I was not part of your transaction. You may want to consider making an appointment with the agent's broker to see what can be done. Best of luck to you!
  • April 27 2013
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