There are so many problems with this short sale %26quot;as is%26quot; house. I will likely lose my earnest money unless I figure out a way to wiggle out but the contract is in the bank's favor.
Will the loss litigation dept or the seller benefit from my naivity? I feel exploited and am upset that I ever saw or signed a contract on this dump.
Buyer Beware!
If I change mind on a short sale contract does the seller or the bank keep my earnest $?
Read your contract for purchase! Most sales contracts are written to include an inspection contingency allowing you to have the property professionally inspected and then decide whether or not to keep the contract in force or to walk away, with your deposit! If the inspection period has passed and you still want to back out of the contract you will lose your deposit.
Next time get an experienced Realtor help you to buy the property. The seller pays the commission, but the buyers agent solely looks out for your best interests and won't let you get pushed around.
