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  1. #1
    Join Date
    Nov 2009
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    9

    Default Tenant Stalling on Short Sale - Refuses to Show the Property

    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?

  2. #2
    Join Date
    Sep 2005
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    Default Re: Tenant Stalling on Short Sale - Refuses to Show the Property

    You entered into a contract with the tenant?

    Does your lease permit you to enter? Did you give proper notice per the lease? Are you going to show up on Monday with the keys to let the real estate agent inside, "just in case"?

  3. #3
    Join Date
    Nov 2009
    Posts
    9

    Default Re: Tenant Stalling on Short Sale - Refuses to Show the Property

    Quote Quoting Mr. Knowitall
    View Post
    You entered into a contract with the tenant?

    Does your lease permit you to enter? Did you give proper notice per the lease? Are you going to show up on Monday with the keys to let the real estate agent inside, "just in case"?
    Yes, on the lease agreement says attempt to noitify tenant. We have did that.
    Yes, we will be there with a key. What if they call the sheriff? Do we take a copy of our Lease with us?

  4. #4
    Join Date
    Sep 2005
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    Behind a Desk
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    98,846

    Default Re: Tenant Stalling on Short Sale - Refuses to Show the Property

    Certainly.

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