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Answers (5)
- Samantha Mitchell, "SamanthaRealty"
- Contributions:219
I'm curious to know the outcome. Were you able to extend the contract? Where was the listing agent in all of this? The listing agent would be the one to contact the bank and handle the situation not your agent. Although your agent should have sent an extension sooner.
My experience with short sales is that nothing EVER makes sense. Good luck!
My experience with short sales is that nothing EVER makes sense. Good luck!
- soonah
- Contributions:81
Your agent is whack, and should have asked to extend the escrow in writing for you, in the least this should have been done long before now, call your escrow officer and have escrow contact the seller to let them know you are about to fund. This is great! Congratulations!
- Ken Kopper
- Contributions:1578
Someone has to have a line of communication to the seller's lender to get all of this clarified so you can stop holding your breath.
Typically it would be the listing agent that would be following up on this but if no one else if making a big deal of it or taking initiative, have your loan officer call the listing agent and get permission to call the seller's bank to get all of this smoothed over so you can coast into settlement
Typically it would be the listing agent that would be following up on this but if no one else if making a big deal of it or taking initiative, have your loan officer call the listing agent and get permission to call the seller's bank to get all of this smoothed over so you can coast into settlement
- Lynne Wright, "wrightlynne"
- Contributions:109
Okay. You only need proof of when your offer was accepted.
Then that needs to be presented to the bank or the investor invoved. Have your agent call a manager with them. It should solve the whole problem. They cannot keep your earnest money if they have made an error. Should be pretty simple. Lynne - Realtor.
Then that needs to be presented to the bank or the investor invoved. Have your agent call a manager with them. It should solve the whole problem. They cannot keep your earnest money if they have made an error. Should be pretty simple. Lynne - Realtor.
- Jeff Konstant, "jkonstant"
- Contributions:1970
I'm confused. You say they have the dates wrong, then say the contract is for settlement today. When we bought a short sale, our offer stated very clearly that we would close not more than 30 days after receiving seller/lender approval in writing. When they approved the short sale, they had their own date (10 days after their approval). This became the closing date if we wanted to buy and our original time frame went out the door.If physically possible, close today. If clear title is provided and money is there, you close earlier. This issue should have been dealt with much sooner.
Advice please! Signing loan docs tomorrow! Need 6 days to close! Contract expired today! Short Sale!
Due to a mistake by the mitigator, she has incorrect dates listed from time offer was accepted (first offer accepted was declined as person had moved on). She has us getting accepted a week before we did! She is basing our closing time on that persons dates! We got an FHA loan approved and ready in record time (amazing!) and tomorrow I am signing my loan docs and preparing to wire transfer the remaining funds needed. We just need until Thursday but our contract stated today was closing day and we cannot get any responses from the mitigator..from the bank. Escrow etc are continuing on as we are closing on the 6th...but my agent is feeling we need to send a letter from a lawyer to get this resolved and threaten arbitration...due to the fact we have been unfairly given the wrong amount of time to close. Does anyone know what banks normally do? We had 19 business days to get this done! The loan is done!! The sellin agent and seller are moving along as we are closing on the 6th too...everyone is moving along but I am freaking out! We have no specific ok from the bank for the extension! The money is almost there!
My agent is upset and has never had this happen before...any advice would be appreciated!
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