Real Estate Question state of - TX --Our rental home is either going into Foreclosure or Short Sale. We are trying for a Short Sale.
We have the Short Sale Packet form the Mortgage Company and the 2nd Mortgage ( for pool).
No we have an un cooperative Tenants. When the tenant moved in, our Property Manger told them we rented to them.
The Tenant wants first option to buy on the Short Sale, and no further offers accepted until their's is reviewed.
We have agreed , if the Mortgage Company agrees.
They have had the requirements for the Short Sale since December 11, 2009 And say they have been Pre Qualified. But will give no other info. We "think" they are stalling to look at other houses to buy. Therefore, we will be foreclosed on because we are running out of time. We have already received a 30 days notice from the 2nd mortgage. We have made arrangements with the 2nd mortgage to hold off , and we are making payments. But we are broke. This is causing us more of a financial Hardship.( We had a job Loss)
However, we need an offer to proceed on the Short Sale, now they have Lawyered up. We ask for an offer by Monday. Their excuse if because of the holidays they haven't had time to speak with there lawyer.
We just found out they have already refused to let the BPO Realtor inside.
We sent this to them ___
"""""It is urgent that the BPO Realtor be allowed to conduct value inspection of home.
He wants to come on January 4th. Monday at 10:30 am; """""
Here is what we want to do , get the house listed On Monday. And put a lockbox on, or we will have our "new" Realtor show it. Also, we think it may be time for us to get an attorney.
Our Rental Agreement is TAR-2001 , It states We may put a For sale Sign on the Property
Access== We will attempt to first contact Tenant, but may enter at reasonable times without notice to Make repairs or show the Property. ( The tenant wants to change to a month to month lease)
BTW--How do we find a good Real Estate Attorney? Do you feel one is needed?