Short Sale Problem
I will try and keep this short.
I am under contract to buy a house. The first mortgage owned by ocwen has tried to foreclose twice, but the owner has stopped the sale, by filing BK. The second has already forecloed. I sent both short sale packages to the mortgage companies. Yesterday my broker who is also listing agent called me frantically. Aparently the homeowners previously signed a contract with someone else. This other buyer wants me to pay him 3k to rip up his contract and walk away.
The homeowner says that he did not ever contact them again and though he was gone.
The other buyer apparently found out about me from Ocwen because he had already sent in his short sale package.
I do not know what to do now. The sellers want me to buy the house. This other guys contract has no date to close at all, is it just an open ended contract?
Help
Frustrated in Florida
If you deem the other investors contract to be valid, I would definatly make paying them anything contingent on a successful short sale. I would be horrible to pay them off and then not end up getting property. Also, what do you mean the 2nd has already foreclosed? Do they now own the property?