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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
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So depressed
We were supposed to close last Wednesday the sellers cancelled on Tuesday afternoon and have yet to reschedule. They have till 8/1 but I am getting so down about this whole deal. We are packed and ready to go and the waiting is killing me! Sorry to vent but this is such an unusual situation. Our rate is expiring and I have never heard of a seller being the one to hold up a closing especially when they already moved to Florida.
Thanks for letting me vent!
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Posted 7/24/07 12:39 PM  |
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Prudential Douglas Elliman Real Estate
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: So depressed
when does your rate expire?
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| Posted 7/24/07 12:49 PM |
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sunflowerjesss
Mommy to 3!
Member since 10/05 20369 total posts
Name:
Jesss, duh.
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Re: So depressed
Maybe they want to be there for the closing and are having a hard time getting here from FL?
Sorry they are being so difficult..
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| Posted 7/24/07 12:53 PM |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
Name:
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Re: So depressed
Posted by SweetTooth
when does your rate expire?
Friday. Since this process began they insisted they wanted to close as close to July 1 as possible and now they are delaying. I didn't even think our rate expiring would be a possiblity.
They aren't coming up for the closing, they gave POA to their attorney.
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| Posted 7/24/07 1:21 PM |
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ali120206
2 Boys
Member since 7/06 17795 total posts
Name:
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Re: So depressed
Could you possibly get a couple of extra days for your rate? Our rate was set to expire on the day we closed, we only found out a couple of days beforehand that we were closing that day as well, I was very upset, especially since the house we were buying was empty as well!
Why are they delaying the closing if they don't live there anymore?
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| Posted 7/24/07 1:33 PM |
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skew
LIF Adult
Member since 5/05 6794 total posts
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Re: So depressed
did they provide you w/ an excuse?
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| Posted 7/24/07 1:34 PM |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
Name:
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Re: So depressed
Posted by skew
did they provide you w/ an excuse?
Yes, they sold the house for less than they paid and are trying to get the funds together to cover the mortgage and RE commissions. I don't understand why it is taking so long since they knew this since they accepted our offer. 
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| Posted 7/24/07 1:51 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: So depressed
Posted by mommy2Alex
Posted by SweetTooth
when does your rate expire?
Friday. Since this process began they insisted they wanted to close as close to July 1 as possible and now they are delaying. I didn't even think our rate expiring would be a possiblity.
They aren't coming up for the closing, they gave POA to their attorney.
Since it is only a few extra days till 8/1, I would call the bank and see how much it is for the extension and see if they will cover the fee for a couple of days. If they go past 8/1, the seller should be responisble for paying to extend your lock. What does your attorney say?
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| Posted 7/24/07 2:03 PM |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
Name:
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Re: So depressed
Posted by SweetTooth
Posted by mommy2Alex
Posted by SweetTooth
when does your rate expire?
Friday. Since this process began they insisted they wanted to close as close to July 1 as possible and now they are delaying. I didn't even think our rate expiring would be a possiblity.
They aren't coming up for the closing, they gave POA to their attorney.
Since it is only a few extra days till 8/1, I would call the bank and see how much it is for the extension and see if they will cover the fee for a couple of days. If they go past 8/1, the seller should be responisble for paying to extend your lock. What does your attorney say?
It is $40 a day after Friday. My attorney is on top of them calling everyday. If nothing is scheduled by the 30th then she said we will start sending some not so nice letters but until then we don't have any legal recourse because they have until the 1st. The whole process is becoming very stressful. I have been packed for a week and living like a hobo picking thru boxes and suitcases. I am so glad I didn't pack up ds's toys, I was waiting till the last minute for that.
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| Posted 7/24/07 2:12 PM |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
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Re: So depressed
I am so sorry to hear you are going through this . It's frustrating to have to wait and not really know how long you are going to wait.
Our lock expired, and since the rates rose a great deal, we decided to extend it. The rate was similar to yours, and since the hold-up was due to COs the seller had not obtained, our attorney asked them to share the extension costs with us. They agreed, so that helped. If you do need to extend, I would ask your attorney to run this by them.
I hope you get good news soon!
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| Posted 7/24/07 3:10 PM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: So depressed
The same thing happened to us and we have to have our rate extended. it was a PITA but it was not the seller fault - the ppl they were buying from were total jerks! Hang in there!
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| Posted 7/24/07 3:40 PM |
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Myrockette
~*~*~*~*~*~*~
Member since 5/05 5632 total posts
Name:
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Re: So depressed
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| Posted 7/24/07 5:25 PM |
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