Newsflash: I was falsely informed by my relator that my short sale offer was accepted by the bank. I paid for inspections and appraisal and now learned there’s no approval. Was I misled?

Two months ago, I submitted an offer on a home the listing agent disclosed as a short sale. Seller accepted contingent on 3rd party approval.One month ago, my relator informed me that the listing agent had received written confirmation from the current mortgage holder(Wells Fargo) to continue with the sale. So, we set dates, I scheduled inspections, and my lender had the appraisal done. Closing was set for 6/15.Now, my relator says she and the listing agent believed that the $190k offer was going to be sufficient to cover the mortgage payoff based on what the listing agent was reportedly told by Wells Fargo. It turns out that they never actually knew the mortgage payoff amount, which I just learned is $230k. There was never actual approval from Wells Fargo to sell the home at $190kToday, my relator emailed me saying that she isn’t sure the listing agent will be able to get approval now and that the home will be foreclosed on and auctioned in July. I feel like I was misled somewhere along the line. I know that I’m ultimately responsible for getting involved in a short sale since banks can do what they want. What concerns me is that my relator gave me the impression we had bank approval which was not true and now I will likely be out at least $1000.How big of a deal is it being given false information by my relator?



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