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Short sale closing date?
We were approved by BOA to sell our condo in a short sale to be closed by 9/9/11. We were told the seller sets the actual closing date but for 3 weeks now we haven't heard anything. Our realtor who has supspposedly been in touch with the buyers realtor says the buyer is getting money together and paperwork and everything is fine. But without a closing date we are reluctant to put anything down on a new place or even pack....we are in limbo...we are only a few weeks away from the close by date. Does anyone know what could be what taking so long to get a closing date or what the buyer could possibly be doing??? This is pure agony!
3 Answers
- ?Lv 710 years ago
You need to prepare for a quick move by boxing everything you will not need for the next 4 weeks.
Arrange to stay with family or friends if the closing is quicker then you think
Do not look for another place till after the closing. Anything can go wrong on the buyer's part especially with them still getting money together and paperwork.
- Anonymous5 years ago
in case you attempt to close in June your challenge would be that maximum lenders so your very own loan enterprise wont lock you in for that factor-physique. the advertising economic enterprise doesnt desire to attend because of fact they want it off their books ASAP. examine your hire settlement usually there is a few clause in there that enables you to get out of it while you're procuring a house. the advertising economic enterprise likely will conform to a 119K purchase cost and allow for supplier concessions. IT in simple terms seems extra effectual on the books. you additionally can attempt negotiating a final date forward of the occupancy date. meaning you close up on the sale of the abode in 30 days yet dont take posession until a time after that. Its unusual besides the undeniable fact that it does take place in situations of short sales adn foreclosure.
- Anonymous10 years ago
sometimes the paperwork required can take awhile to get together. the mortgage and title companies can also hold things up sometimes...
waiting to close is AWFUL. unfortunately, i don't know anyone that has closed on time. i know it's tough, but try to be patient.
