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r0511 · May 11, 2010, 08:54 PM

On May 6th, a buyer representative that works with my Realtors arranged to come by with a contractor to estimate the repairs for the buyers. When the Representative arrived with the contractor, the Buyer Rep told me that the bank had approved the [her buyer's] short sale offer. On May 11, since I still had not received any paperwork from my Realtors, I called them and they faxed me some paperwork to sign. I noticed that the paperwork was dated April 30th and it stated that it must be returned to the bank by May 6th or the approval would be rescinded.

I called my Realtor and informed them about the May 6th deadline. She said that she did not see that and received it on May 4th (I believe from her Short Sale Department). My Realtor said that she would check with them (meaning the other people in her company). She inferred that they were gone for the day. She told me to read the paperwork carefully and return only the pages I sign. I told her I would fax all of the pages back and write that I received it on 5/11.

I have had several short sale offers approved by the bank on my house by this Realtor. Each time, something falls through. I don't believe it's because the loans fail. I have had too many mishaps with them. I even had a Buyer's Realtor say that he filed a claim again my Realtors with the MLS.

My auction date is June 4th. My Realtors said that since I had a bank approval that I did not need to worry about that. Well, I'm worried because they missed the return date. She said that she would contact them (her department people). Well, they're the ones who sat on this. If my Realtors are not able to keep this going, may I sue them for negligence and what would be my best route to start to go about doing that? I am on unemployment and looking for options.

Thank you,
R in Tacoma, WA.

ScottGem · May 12, 2010, 03:57 AM

You need to contact the lender directly. See what they have to say. But, if the lender has rescinded their approval for an offer due to negligence on the part of the realtor you may have a cause of action.

Fr_Chuck · May 12, 2010, 04:17 AM

If you had it on the day it must be returned, why did you not just sign it that day and have it faxed over, they would have had it that day.

r0511 · May 12, 2010, 07:55 AM

Thank you, I will contact the Lender. I have to contact them anyway because I received a letter also on May 11th that said that I authorized another person on my loan when I did not.

I received the bank's approval information on May 11, and noticed that it was due May 6th. I'm going to research filing negligence and fraud.