We made an offer on a house that was in the Short Sale Status and the sellers accepted the offer, as the sellers were trying to avoid foreclosure. The negotiator at the bank counter offered and we then countered that and they accepted that offer. Contracts were signed to confirm the offer and we proceeded to get our loan in order. The Appraisal was planned for Tues. June 7 so we could close escrow by the designated time line, June 25.
On Monday June 6 we were told that we could not buy this house because their was miscommunication at the bank and it was foreclosed, auctioned and the bank now owned it. Our real estate people are questioning this but we know that once a contract is signed it is legally binding. Should we go ahead and get and pay for the appraisal before we get the official word that this house will be ours? We are concerned about the June 25th time line.

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