how long (selling question)
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browneyes
All moms are working mothers!
Member since 8/08 4311 total posts
Name: Super Mom
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how long (selling question)
Ok we are selling our home and I have a question: so your contract ended on oct 20th . They expected closing date was on or about sept 20th As far as we are aware the buyers have everything they needed to close they are just waiting to get the clear to close from the bank.. Well we are so over waiting. I have been paying for a storage unit for over a month now plus living out of boxes.. So on Monday our attorney sent there attorney a letter saying that we are to close on Nov 22 at 10am and if his buyers are unable to meet that then they breach the contract and forfeit the down payment. This was sent out on Monday and we still have not heard a word from the buyers attorney or bank..
So my question is how long would it normally take for them to atleast acknowledge the letter or would they even?? Im going to wait till tomorrow to call my attorney but I just feel like such a pest calling him every week. Im just so over this sale and I want to be out already!!
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Posted 11/7/13 7:53 AM |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
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how long (selling question)
I actually didn't think it was that unusual to go past the 30 days from the on or about date. I know we were about a week and a half late because of various issues all outside of our control. There was nothing we could have done
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Posted 11/7/13 8:37 AM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: how long (selling question)
Call your lawyer to see if he's heard anything. He sent a "time is of the essence" letter, which puts everyone on notice (the bank, the purchaser, their attorney and their real estate broker) that they are being forced to close or it's over.
For a regular (not short sale, foreclosure, etc.) purchase, it is unusual to go beyond 30 days past the "on or before" date. Sometimes the underwriters need to be prodded into acting more quickly.
If the purchaser is waiting for something from their bank, this letter will sometimes help move things along.
Good luck.
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Posted 11/7/13 9:29 AM |
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browneyes
All moms are working mothers!
Member since 8/08 4311 total posts
Name: Super Mom
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Re: how long (selling question)
Posted by Mill188
Call your lawyer to see if he's heard anything. He sent a "time is of the essence" letter, which puts everyone on notice (the bank, the purchaser, their attorney and their real estate broker) that they are being forced to close or it's over.
For a regular (not short sale, foreclosure, etc.) purchase, it is unusual to go beyond 30 days past the "on or before" date. Sometimes the underwriters need to be prodded into acting more quickly.
If the purchaser is waiting for something from their bank, this letter will sometimes help move things along.
Good luck.
thanks. that's exactly what he called its a time is of the essence letter.. Thanks again I will give them till tomorrow and call him to see if there has been any updates.
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Posted 11/7/13 9:46 AM |
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