I have been in a contract to sell my luxury home in Olathe for 6 months as a Short Sale. I'm getting sick and tired of dealing with my mortgage lender and want to cancel. Can I legally cancel?

Question: I have been in a contract to sell my luxury home in Olathe for 6 months as a Short Sale. I'm getting sick and tired of dealing with my mortgage lender and want to cancel. Can I legally cancel?
Susan V. from Olathe, Kansas


Answer: Susan you will need to review the sales contract you have with your buyer with an attorney to get the best legal advice. 


I know dealing with banks maybe difficult, but it is nothing like dealing with a foreclosure for the next 7 years. I would suck it up and get the docs to your lender in a timely manner. Keep copies because I'm sure your lender will lose the docs and you will need to send them the same copies a few times. 


It takes time to negotiate a short sale because of the various investors and insurance companies involved. Some lenders and insurance companies involve multiple parties to lessen the risk to their institution.


Best of luck, Susan.


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