Short Sale price accepted

[Anonymous]

Hey all,

Just got the news yesterday that my bid on a short sale in NJ has been accepted. After reading everything I have online I must admit that I was almost hoping I didn't win but it is a nice house at a decent price so I guess it may turn out to be a good thing. I found out also that not only is the couple that is living in the house losing the house but also going through a divorce. I must admit since they are still living in the house I am concerned about damage or items being removed from the property. IF anyone has any advise it would surely be appreciated.

Thanks,

[Anonymous]

I would go through (request another walkthrough with family absent) and take pics of the current condition of the house.  Make sure that the opposing realtor understands that you expect the house to remain in current condition and will expect any items that are removed or changed prior to close to be taken care of.  It will probably hold little real legal weight beyond matters of purposeful negligence (i.e owners punch holes in the walls, etc), but it will clarify to seller and realtor that you have documented the current condition.    

[jmack711]

Put all those stipulations in the purchase agreement contract. For instance, I included that all the appliances must stay and they agreed and signed it.

[pizzadude]

Generally you would do a final walk through of the property, either the day before or even the day of closing.   This would be once the property is vacant and would be your opportunity to look for damage or missing items which were agreed to remain.

If things are not to your liking you would notify the other agent of the issues.   Or you could just refuse to close until things are fixed - I have had this happen to me, the other party refused to close claiming that our movers scratched the floors when they moved boxes.    My attorney basically told him to shove it and suck it up, which he did, although it delayed closing by 5 or 6 hours.