Short sale owner accepted, bank wants more$

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Posted by Sonia A. on May 07, 2008 at 11:00:57:
Los Angeles, CA. The short sale house was listed for $350k. Our offer for $370 was accepted on 4/2. The acceptance was signed by the owner. Then the agent said: we'll see if the bank agrees. Does our signed contract mean nothing? We just heard (5/7/08) that the bank wants to clear $400k which means that they want our offer to be about $429k. Is there no way to get them to honor our accepted offer? In the meantime we've taken out a line of credit (getting ready for the down payment) incurred interest charges. THANKS in advance

Follow Ups:

Re: Short sale owner accepted, bank wants more$ Handy(MN) 15:45:52 05/17/08 (0)

Re: Short sale owner accepted, bank wants more$ Natalie-VA 10:46:28 05/16/08 (0)

Re: Short sale owner accepted, bank wants more$ River City 10:49:52 05/08/08 (0)

Nothing until bank agrees to price and Terms steve 13:22:15 05/07/08 (0)

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