Subscribe
What is RSS?
Post a CommentI’m interrupting the regularly scheduled post to update you guys on our closing date. We completed our walk through the place and it looks good. Some minor fixes, but all in all, it looks good. We make the appointment for the final walk through before closing. After we finish my husband and I go shopping for some last minute supplies.
Big Mess with Closing
While driving to Lowe’s to get painting supplies, my husband gets a call and is told that the closing date is delayed. I’m driving while he’s listening to everyone (conference call) on the line. Apparently someone in the office dropped the ball and an inspection needed didn’t happen and we can not close. The estimated time for the new closing day is in 2010! My husband calmly listens to their explanation and they say they will get something worked out. My husband hangs up the phone and summarizes what the conversation was.
I’m basically upset at this point and turn the car around to go home (why spend money at Lowe’s until we know what is going on) and call my real estate agent to get try and understand how this could’ve happened so close to closing and no one picked up on this mistake.
We were planning on moving this week, but now there is a delay.
We’re supposed to be out of our apartment next Monday evening and my husband took the entire week off to help with the move. We lined up helpers and they have cleared their schedule for our move.
We need a solution to this problem
From everything explained to us, we fulfilled our end of the bargain. I’m willing to take our earnest money back and just hunt for another place. If we can come up with a solution that works for us, that will work, but this is a big mess.
Any Ideas?
Have you had something similar come up at the last minute with closing? How did it get handled?
Photo Credit: fotographix.ca
Related Posts -
My Husband Saved Us Money on Car Insurance We didn't switch to GEICO and it took longer than 15 minutes, but thanks to a phone call we saved money. My husband called Progressive to inform them of our move. He had to be switched a few times as we went from an agent in one state then...... -
The Progress of Closing on a House Today we're supposed to close on our house. I'm cautiously ooptimistic about it since we had the closing delayed last minutes before. I thought it might be interesting to keep a diary of the day, both as a personal record for us (it's our first house!) and a reference for......
Here are Some Other Great Thoughts - West Coast Salmon Season Called Off From the Contra Costa Times (http://www.contracostatimes.com/search/ci_8557645): Unprecedented collapse in fish population forces cancellation among West Coast states Early season salmon fishing off the coasts of California and most of Oregon was shut down Wednesday by federal regulators responding to an unprecedented collapse of salmon populations along the West Coast. The......
-
Love Them or Hate Them, Make the Most of Gift Cards this Holiday Season Today's guest post comes from PT, who writes at Prime Time Money: a site dedicated to helping you save more money, get out of debt, and live a more frugal life. Be sure to check out the rap video PT made about saving money for his first baby, due in......
Depending on the other side – they may let you move in and pay their costs (monthly costs divided by 30 days). It all depends where they are headed, they might just as anxious to move out.
There are also issues of liability with a set up like this – but may be worth a discussion
I’m very sorry about that situation, I’m currently selling my house and everything was done and put together for the buyer and 2 days before the buyer was to sign, the lender said they missed something small and couldn’t do the loan at all so we went through all sorts of junk to get another lender and that took over 3 weeks. It’s been a pain and I sympathize with you. I know that some apartments will let you do month to month for a higher price, or you might see if the inspection can be done in the next week, they shouldn’t take long at all. I hope things work out for the best and quickly
Oh NO! 2010 closing now? Why such the long delay? That’s ridiculous. Whoever dropped the ball should just put you up in a hotel, or pay the rent for the time differential between original closing date and future closing date.
The price of the apartment would jump outside our budget so staying here isn’t an option. Since we have no information or updates on how they’ll fix this, we’re a bit upset. It’s been hectic.
We have spent the day trying to get in contact with them, but no response. Hopefully I’ll update you guys tomorrow.
That’s shocking you can’t even get a hold of them. Maybe something is shadily wrong and it’s a blessing you didn’t close??
I’m sorry to hear that!
Technically, if you did everything on your part of the deal, they will have to compensate for not respecting the actual delay.
Ask them to pay for relocation (hotel, other apartment, moving costs, etc) until 2010.
Some people need a “little push” to find solution and become more creative
anyway, why don’t they not rush the inspection and move ahead for next week?
Here’s what we’ve been told:
It’s an inspection required for our FHA loan.Inspections are backed up for 6-8 weeks right now. They called us back today and offered us a way to move in before Christmas, but it was with another lender. I’m not thrilled with that plan as it’s not a bank it’s really a correspondent lender.
They have made no offer with numbers on compensating us for the rent and my husband’s vacation days. We’re not going through with with this delayed until that’s agreed upon. We’re looking at other places to buy and started today checking out neighborhoods.
Weird Laura. Maybe the seller is having seller’s remorse and found another bidder to pay them more so they are jerking you around? that happens ALL the time with realtors making side deals and such.
[...] Today I’m posting an oldie, but goodie from the archives. We’re in the midst of some house drama so keep checking my post to see what is going [...]
Could be it. We got their offer and it’s less than half the expenses we’d incur to wait for the new estimated closing date.
[...] finally heard from the builders and they are only willing to lower closing costs a bit and it won’t even cover half of our [...]
[...] Delay in Our Closing: I really appreciate the support and encouragement with our bad news. [...]
[...] Big Purchases, Mortgages It looks like we’re back on for the place! We were suppose to close on the town house a couple of months ago, but a required sign-off had to happen and it didn’t. Now fast forward [...]
[...] supposed to close on our house. I’m cautiously ooptimistic about it since we had the closing delayed last minutes before. I thought it might be interesting to keep a diary of the day, both as a personal record for us [...]