Profile picture for jamesletx

Sellers will not comply with loan documentation

I am not working with an agent and buying directly from the seller. The problem we are facing is that the seller is not communicating with us anymore at all and is not signing the necessary documentation our loan officer asked them to complete. What are our options now? It seems as if they do not wish to move forward with the sale and even worse will not answer our calls.
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February 09 2010 - Augusta
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Sounds like it's time to contact an attorney. Sellers have specific obligations, at least in our contracts here in California, and they include reasonable efforts to assist the buyers in getting financing.
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February 09 2010
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If you have not already obtained the services of a RE lawyer (i.e., to review the sales contract), it sounds like now would be a good time to do so. Also, you should start keeping a journal of "when what happened", just for your personal records and in the event that this gets ugly...which now sounds like a possibility.

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February 09 2010
They may be trying to invoke the clauses in the finance contingency which state that if you are unable to obtain financing in a timely manner the deal is kaput. 
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February 09 2010
 
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