There are two contracts

1. Contract b/w you and seller, contains clauses: subject to lender approval

2. Contract b/w seller and lender, contains: before lender approval, seller has to put the property on auction.

Now, you heard lender was going to approve, fine, lender wont ACTUALLY approve before trying their hands in auction per contract 2. If the auction get higher bids, lender will withdraw short sale approval and take the highest bid; if the auction didn't get bids higher than your short sale offer, lender will come back and approve your short sale.

So lender told the seller (her agent) put the house on auction, even marking it as "bank approved short sale", but in fact, the auction is the last step before the actual bank approval.

There is no problem with contract 1, because lender never approved (but was okay to proceed to auction.

Throughout the process the house is under ownership of the seller and in short sale status.  In order to get short sale approval, seller HAS TO put the house on auction.  If sold on auction, seller agent still get her cut so it makes no difference to her whether you or someone else bought it via short sale or auction.  

Nobody explains this to you because the agent is a dual agent, in fact she's working for the seller and nobody is looking after your interest.  Not that any buyer agent can do anything, except explain this to you better. 

所有跟帖： 

• Thank you sooo much. Now understand. -meowi- ♀ (0 bytes) () 04/23/2015 postreply 08:35:17

• 很清楚，赞一个 -螺丝螺帽- ♀ (0 bytes) () 04/23/2015 postreply 20:19:29