Not sure if this will ever end. Got another extension today from our buyers. Not their fault! After my husband got the loan several years ago, the bank changed it from residential to commercial without telling anyone, so now the buyers have to get a commercial loan. New close date is January 18th! Presenting this to our sellers in Colorado tomorrow and hopeful they will agree to it, if not I have NO idea what we will do...........
We had somewhat of a similar situation once....I know this is hard to swallow....but first priority is SELLING your property.....if the sellers of the house you're interested in buying won't accept it, oh well. You've been trying so hard for so long to sell this property....get it sold and if you have to start over in CO, then so be it. Sorry you're going through this but seriously....don't lose this buyer.
Sorry to hear this, Nancy, but, as you say, it's not the fault of the buyers and hopefully January 18th will be the magic date! Fingers crossed that it does close then AND that the sellers in CO will be cooperative ~ keep us up-dated!
Yes, stick it out with the buyers even if Colorado doesn't work out, but I think if the situation was explained well...your sellers there will go for it..understanding completely!! Even would be good if you got a letter from the lender (which is also your lender right?) explaining. Proof in the pudding!
Sellers signed the extension and we got a copy of the email from the lender saying he can make this work. Of course that is not the same as having contingencies removed, but it helps. Seems like things are moving forward, but after all this am feeling pretty cautious! Hope all of you have a WONDERFUL Christmas!!!
So someday I am going to come on here and tell you we have closed. It is not going to be today. The loan committee was to meet today and confirm the loan and remove the contingency and close next Friday. Just got word the committee is now meeting on Monday. Have no idea what to think and we are both sick from stress.
Originally posted by Nancy in CA: So someday I am going to come on here and tell you we have closed. It is not going to be today. The loan committee was to meet today and confirm the loan and remove the contingency and close next Friday. Just got word the committee is now meeting on Monday. Have no idea what to think and we are both sick from stress.
Don't end up in the ER like I did...I wasn't able to finish packing up the house and hubby had to do it and he also had to direct all the movers...I wasn't sure I'd make it to closing, but I did.
I know what you are going through...please take care...hugs