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/because it was a "short sale" I was advised to do property inspection. I also paid for an appraisal. I was told I would be reimbursed for these cost at close of escrow. My RE agent works for the same company as the seller -- now they claim seller secured Mod Agreement -- I didn't know that a mortgage company could do a short-sale and a modification at the same time. I have lost my current apt and have moved in with family because of what has happened.
Your Real Estate agent didn't look out for your best interests....and I would file a formal complaint with the Real Estate Commission of your state. The breach of contract was made on behalf of the seller, not you. You NOT ONLY get to sue for ALL of your expenses...such as the property inspection and the appraisal, but you can actually sue for punitive damages for the trouble you have suffered and all of your storage expenses, etc. Short sales are still legal contracts...and what happened to you was underhanded. Go get an attorney, I can tell you now, you will win in court. PS: If it's under the limit of small claims in your state, you don't even need an attorney....all you need is a copy of the sales contract and proof of your expenses. PS: Hollywood's answer is so far off the mark...not even worth considering...a short sale and loan modification is not against the law...they are two separate events..appraisals are SOMETIMES collected in advance, and yes, you can sue for your property inspection because this wasn't a transaction that didn't work out...this was a breech of contract..that changes the whole game of what you are legally entitled to. Closing agents just do the tail-end paperwork (taxes, HUD, etc)....they are not experienced in the legal aspects of how the contract works and the process from beginning to end..that is why they don't have to have a license either. BOTH AGENTS DO NOT WORK FOR THE SELLER...(eyeroll)...Your buyer's contract and the listing contract BOTH belong to the BROKER ohio CHARGE of the firm...your Realtor and their Realtor are not only two separate people, they have a legal, fiduciary responsibility to look out for your individual interests...it's what is legally referred to as a "dual agency" , is common, happens all day every day in the real estate world...all that means is the Brokerage firm is the same...we have an agency here in town that has over 5,000 agents for the same Brokerage firm....so you can bet your bottom dollar there are hundreds of transactions that happens under the same BIC. The agents that are involved in the transaction....DO NOT trade information between themselves that is confidential to their own clients. You don't have a claim against the listing agent...b/c you did not have a contract wtih them...only YOUR OWN agent.
This does seem odd. If the lender was in a position to accept a short sale offer, it seems they would have already gone through all the motions of trying to get a modification worked out with the seller/owner and had given up. Did you make an official offer that was accepted by the lender, and have something in writing from them? The seller would have had to send that offer to his lender before he could commit to letting you have the house at that price; he can't just do a short sale without the lender being involved. If you didn't go through an offer/acceptance process, in writing, then you may be out of luck. The advice about the property inspection is good regardless of short sale status or not; you should always get one (even on a brand-new home - you'd be surprised all the things the builder missed that show up). I also wonder why the appraisal? Your RE agent could have provided you with a comparative market analysis so you could have a good idea that the asking price or your offer was in line with reality. If you went to get financing, your lender would not accept an appraisal you give to them (appraisal fraud being one of the main causes of the RE market problems these days). If your RE agent advised you to get the inspection and appraisal before you had a binding contract with the seller and his lender, I'd certainly talk to them about that. That just doesn't sound right to me. Hope you can let us know what happens, or more details about this unusual situation.
You should always get a home inspection which requires payment upfront and no you usually can not be reimbursed as the seller can not make you get one. Appraisals are not paid for in advance and is a requirement by the lender. Appraisals are done by the bank not normally an outside source. Mortgage companies can not do a short sale and a modification as that is definitely against the law. My worry would be that since your agent is backing the seller (although both agents do work for the seller) what kickback is he getting? I would send my real estate agent and his broker a certified letter regarding this situation and informing both of them that you are contacting the Board of Realtors and putting in a formal complaint. This alerts them that they may be investigated and their license can be suspended.....