Thread: Can I do anything?

In the contract for sale the parties are clearly specified. If you have proof that the names were changed without your knowledge then you have a claim against the Real Estate company but not likely the person who bought your home (not sure what you mean since you said the woman purchased the home when the husband was supposed to and now you say they both own the property???).

It doesn't appear that you were "scammed" though as it doesn't matter who purchased your home since you were selling it anyway and agreed (or had to agree) to the price correct?

As far as husband/wife purchasing homes separately, even though one is defaulting, this is not necessarily illegal. So your calling it a scam doesn't make it one and most scammers are caught in the country and face hard penalties.

What's great about this country is that you can fall on hard times and get back up and get a new home within a few years. You are 1 of a ton of people who lost their homes in 2010 (highest foreclosure rate in history). 2011 will have an even higher foreclosure rate than 2010, truth! So put your energy into reestablishing yourself and learn the best ways to save your investments along the way.

Best,
John Perkins
BusinessVideoTour

I guess the people wanted a new house before they were unable to buy a house after their short-sale. I guess my question is, if they aren't using the house and have no idea when or if they will sell their short-sale. How can I persuade them to sell me the house of my dreams back?

I say misreprsented because the realtor came in and introduced the husband as the buyer the first time we spoke, at this point the contract had already been signed by the wife prior to meeting them. So I was under the impression that the husband's name was the name on the contract.

They would be interested in selling me the house back, but the husband said it would be impossible for them to get another loan. So until their short-sale is sold the house sits empty besides someone renting the basement. Is there anything a seller can do as far as arbitration after the sale of the house if the seller isn't happy.

A Short Sale is only such if it is actually on the market. If it is a Short Sale then it stays on the market until the Bank agrees to a price (the owner would have nothing to do with selling it per se except to agree to the terms the Bank comes up with). I'm not sure I understand why you keep focusing on "their assets".

You said they were using their new purchase (your former home) as a rental. This would indicate that they are using it as opposed to your statement "if they aren't using the house".

It sounds as if the new purchase is now an investment property for them. If they indicated in their loan documents that they were going to use it as a primary residence then this would be an issue for the Bank. However, with the way the market is.... as long as they are paying the mortgage the Bank is not going to be too concerned at this point.

As I mentioned, you should reestablish yourself and then go purchase another home. If you have recently come into some money maybe they would be willing to sell it back to you. However, it will likely be more expensive than you sold it for as they wouldn't want to lose money on the deal. As far as persuading them its just a matter of a simple letter stating that you would like to purchase back the home and state what fees you are willing to pay.
Again though, its likely to be more expensive than what they purchased.
While I understand its a stressful time for you many people successfully recover within a few years. Best, John

Originally Posted by price86

Is there anything a seller can do as far as arbitration after the sale of the house if the seller isn't happy.

No. A contract is a contract and a closing is final. If it was possible for a seller to cancel a sale after closing then no one would want to buy a home where the seller could come back later and kick them out.

Think about all the sellers who sold in 2003 only to see their old house worth 20% more the next year. All of those sellers would have been canceling the sales so they could make the profit.

Look at it this way. Life is full of mistakes that we all make. There is no way around this.

If this is the biggest mistake you make in your life then you can consider yourself lucky.

It is time to move on.

Originally Posted by price86

I say misreprsented because the realtor came in and introduced the husband as the buyer the first time we spoke, at this point the contract had already been signed by the wife prior to meeting them. So I was under the impression that the husband's name was the name on the contract.

They would be interested in selling me the house back, but the husband said it would be impossible for them to get another loan. So until their short-sale is sold the house sits empty besides someone renting the basement. Is there anything a seller can do as far as arbitration after the sale of the house if the seller isn't happy.

I guess I don't really understand what you are taking issue with: In most states, it doesn't matter which, husband or wife, that signs the puchase agreement, both have to sign at close and go on title. What difference does it make which one actually purchased it or what they are doing with it now? Did you have a seller financing note in place? Do they still owe you money? I'm sorry, but there seems to be a piece of the puzzle missing here. What was the point of selling it if you did not want to give it up? Give us more information so we can get to the core of the problem with you.

This subject was already answered. The Seller has no position in this case. The contract does not require the signature of the husband and wife if the wife was the only one on the loan.
Even if there were issues with the Buyers process and they are potentially breaking a law the Seller still does not have a claim to the property except that he/she has the ability to purchase it from the bank after the Buyers have been found guilty of fraud and the bank takes the home back to sell it to another party. It does not sound like fraud though.

Sorry, what is this thread about - it's got me interested but has confused me.

Why would you sell a home you wanted to live in? And why does it matter who bought it? Didn't you just sell a house, and someone who wanted it bought it?

I'm sorry to read your situation. But,as you've said, you already signed the contract and the deal has been closed. In that alone you can't do anything.