I'm in a process of short sale ,have an offer ,a company that specializes in this type of transactions is handling it. They have been dealing with the banks for about 4 months now and seems is going very well...Now when it comes the sale date if the short sale is not finalized,can I go as the owner in front of the judge to request the sale to be postponed? What are the possibilities a judge will grant that postponement?
Much will depend on the age of the case, whether there have been any prior postponements, and whether the bank has approved of the short sale. If the bank has not approved your short sale, it will be difficult to convince the judge to give you a postponement. You should consult a local foreclosure defense attorney to assist you.
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I do not practice in Broward, but in Palm Beach County the possibilities would range from slim to none.
See, so many short sales fall through, for a variety of reasons.
The judges are concerned with clearing the dockets. Your seeking a short sale means you are not trying to stay in the home. So, the judge may think that it is just a matter of time before you are out of the house anyway, so why not sooner rather than later?
Frankly, I have never considered a short sale as a benefit to the home owner unless the creditor agrees to waive any deficiency. THAT may be the most compelling argument to make to the judge, who might be willing to postpone the sale so that you can avoid a deficiency.
But, when you say "finalized", do you mean the creditor has already approved the terms, and you are waiting for a closing, or do you mean that the bank is still sitting on the proposal? If the bank has not made a decision, the judge might think that it may never make a decision, or may never waive the deficiency, so let the sale take place.
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If the company specializes in short sales, then you should be asking the company where you are in the short sale process. Do you have an exact sale date set where the auction of your property will take place? Has the date been published in the newspaper? If not, then you are in a race to get the short sale done before the gavel comes down. IF you do not have a final date to appear in court where the judge sets the exact sale date, then when you get the papers to appear before the judge, go to court and plead your case with the real estate contract of sale you have with the buyer. This may give you time. It is up to the judge to decide whether to grant the postponement.
This communication is not intended to create an attorney/client relationship. It is always recommended you consult an attorney in person to discuss your case. Leonore M. Greller, Esq. is a Supreme Court Certified Civil Circuit and Family Mediator and a Qualified Residential Mortgage Foreclosure Mediator and Arbitrator.
Without an attorney assisting you, forget it. The collections department of banks and the loss mitigation departments do not communicate and there are countless cases of foreclosures getting finalized during a pending short sale.
Please note that this answer is not intended as legal advice rather it is meant for informational and educational purposes. No attorney-client relationship is created or is intended to be created by this answer. The answer relates to only Florida law. The facts of each legal matter or issue are different and you are urged to contact a licensed attorney to discuss the specific facts of your case and legal issues.