Is a short sale offer to buy(contract signed by the owner his broker and the buyer-me) a binding contract without the signature of the banks-loss mitigation department? One of the stips in the contract was the home would be under an approved contract by April 30th in time to qualify for the 1st time buyer tax credit. Since the bank-loss mitigation had not signed the contract I submitted a T&R (termination and release). The listing broker refused to refund my $1,000 ernest money saying the house was under contract wheather the bank accepted the deal or not? What say you?
Short answer it depends! How long you have lived in it and any local rules may have an effect on this. You need to look up these things on google and ask questions here.
Title holder liable for taxes - Posted by John Merchant
Posted by John Merchant on March 17, 2010 at 20:44:54:
This issue must be addressed when you sell by REC or w Deed as to which of you is to pay the taxes due.
If it’s not then whoever was in title when the tax came due is going to be liable for those taxes and likely no title co. would issue clear title w/o their being paid at closing by one of you.