I put an offer on a condo for 200k that is a short sale. The bank gave a counter offer of 205k with the condition that we pay the judgment that is originally 8000 but will be lowered to 2500. We countered offered wit 202,500 with a maximum payment of 2500 for the judgment. Then the bank countered 201k with 3000 for the judgment. The first concern is why do we have to pay the judgment. My broker said the seller has no money. I am not sure how short sales work in regards to who settles liens and judgments on the property. The second concern is that the judgment has to be settled in cash which will leave us with little extra money. I am not sure how to proceed because I cannot get hold of a lawyer. I would appreciate all advise. Thank you.

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Originally Posted by loboen

I am not sure how to proceed because I cannot get hold of a lawyer. I would appreciate all advise. Thank you.

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Hello l:

I don't know where you live, but here, there are lot's and lot's of them available for hire. If I were you, I'd spend my time finding one and hiring him to do the closing.

excon