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Real Estate: California/Short Sale in Escrow

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Question
We placed an offer on a Short Sale and it was accepted by the seller and 1st mortgage only.  A deposit has been accepted and the house is supposedly in escrow. However, the second still has not approved the short sale. Today, I noticed that the house is now re-listed as active on the MLS for a higher purchase price than ours. Is this legal? Our deposit has not been returned nor did we sign a cancellation.

Answer
It is not ethical for the listing agent to change the listing back to active unless it has been agreed to and not until both buyer and seller cancel in writing the agreement. It can be a finable violation by the MLS to the listing agent to intestinally input false information in a listings.  As a broker, it is not legal for me to answer if it is legal or not, as I am not an attorney.

I can provide advice, on how to solve your issue, but I need detailed information. For example, it is not normal to submit a deposit check until you have a 100% acceptance from all lenders, which appears you do not.  Why was the check submitted into escrow? When does the agreement expire?  Do you have an agent working for you?  Please send any other details you can think of.  

Real Estate: California

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David Norwood

Expertise

I worked as a Licensed Real Estate Appraiser from 1994 to 1999. After moving to the Central Coast of California in 1999,I worked as a License Real Estate Broker. My brokerage company is David Norwood - Central Coast Real Estate. My expertise is in selling Homes and Land including: Short sales, foreclosures, Luxury homes as well as first time home buying. I can answer almost any question about real estate and will provide the pros and cons to any question.

Experience

Licensed Certified Real Estate Appraiser 1 to 5. Licensed Real Estate Broker Marketing professional for over 25 years

Organizations
California and National Association of Realtors Pismo Coast Multiple Listings Service

Publications
http://www.trulia.com/voices/profile/Real_Estate_Pro-Arroyo_Grande_CA-717753/ http://www.dnorwood.com/Pages/BLOG.aspx http://www.dnorwood.com/Pages/arroyo_grande_pismo_shell_beach_newsletters.aspx

Education/Credentials
Licensed Real Estate Broker #01260196 Licensed Real Estate Appraiser exp. Master of Science Degree, Cal Poly BA Art / Marketing, Photography and Design

Past/Present Clients
I am currenty working to find homes for several buyers and have homes Listed for Same in Morro Bay and Land in Santa Margarita.

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