I own a home in San Diego County. Unfortunately, we had to short sale our home. I obtained an experienced realtor who had over fifty short sales under their belt and several staff members to assist. We listed and received a bid from a person. The bid was acceptable so we sent the paperwork to our first, Nationstar Mortgage, and our second, Citi Bank. All appeared to be going well when Citi Bank signed off on their portion of the short sale which included $5000 in move out money.
Nationstar seemed to accept the offer and move forward, but then they presented us with paperwork for Aution.com to attempt to obtain "comparisons" in the neighborhood. We told our realtor we did not want to do this, but Nationstar said it was a requirement or they would not proceed with the short sale. Faced with this ultimatum, we signed under duress.
Auction.com sent out a person to do an "evaluation." I left them with my realtor and came back when they left. I found out the "evaluation" included numerous pictures of the inside of my house that I did not want publicly posted and never agreed to, but they refused to remove. Nationstar forced my realtor to do an open house for Auction.com and put it up for auction for a week. No bidders to my knowledge and then it closed on a Friday. Sunday night (04/07/13), I received a call from my realtor stating Nationstar accepted a bid form some investment group for $2000 more than the person who I had originally received a bid from.
The person we originally received a bid from wanted to counter offer. Nationstar said they would not take any counter offers from anybody but Auction.com. So our original person would have to agree to Auction.com's percentage cut from sale of the house. At this point our realtor realized they themselves were now cut out of the process and not going to receive any money for representing us in the sale of our house. Our realtor had a lawyer send a letter to Nationstar, but they sent back a big "no" because "you agreed to use Auction.com." Plus our escrow is set for the middle of next month, which is less than 30 days away and there has been no mention of the $5000 move out money. I have signed no papers agreeing to this offer.
I called Nationstar. They couldn't help me! They gave me a number to the Nationstar representatives' number at Auction.com. I am currently on hold and have been for the last hour and twenty-five minutes! I called back the original number and they're closed.
I signed no contract surrendering my rights as a home owner. I signed no contract surrendering my realtor's rights. The contact I signed was only to allow them to post my house on Auction.com and it was only signed under the threat of the ending of my short sale process and entering foreclosure. Now I'm under a time crunch, have no money to move, have no money to fight, and I'm stressed out of my mind so this faceless entity can get $2000 more and give my realtor's commission to Auction.com. Help!