I hope someone can give me some input regarding a recent short sale does not go well.
I signed a contract and agree to deposit 10% to the seller's lawyer escrow account. The seller submitted to the short sale bank for approval but for some reason the seller's bank rejected the offer. Now the seller is blaming me not submitting my loan application to her bank for approval. According to my contract there is no obligation or require from my side to submit any documentations to assist the seller's bank approval. The only way I cannot get my deposit is when the bank approved the deal and I cannot close it. Now the seller is file a lawsuit regarding the 10% down payment. She even offer me to give her 15k in order to drop the lawsuit. What is the chance she will win the case since I am complying 100% to my contract here?
Thanks in advance,