Hello,
Maybe someone can help me with this, I am in the process of purchasing a home I am using a VA loan. here is what has happened.
1. In 11/2014 I was approved by the lender for 300k and began my search. in 01/2015 I found a property for 265k an submitted an offer after some negotiations we (the seller and I) came to am agreed purchase price of 247k with 3% seller concession.
2. the paperwork was submitted to the lender with the property listing, disclosures & the signed contract on 2/4/15 with an agreed mortgage commitment date of 3/20/15 and a closing on or before 3/26/15.
3. the lender approved the purchase agreement and sent the mortgage commitment on 3/17/15 with a rate of 4.25% guaranteed through 4/15/15 then said it had to go through underwriting.
4. They then ordered the appraisal and said the reason it was not ordered earlier was because I told them not to do so this was a lie (i have more details on this)
5. The closing date of on or before 3/26/15 was missed due to the home appraisal, the seller and I agreed to push it back one week to 4/2/15 (today)
6. The lender on 3/30/15 then said that a Well water test needed to be done as it is a VA requirement and they were unaware of a well (again they had the listing, disclose and signed contract showing there was a well) my realtor went to the property and pulled a sample and took it to for testing it was deemed as potable water however the Iron levels were high. (the well had been turned off in early February after the contract was signed as the house is unoccupied)
7. The lender is now saying we need to postpone the closing again, I have already notified (two weeks back) to the lender and the agents involved that the following week 4/13-4/17 I am unavailable due to work requirements.
What are my options?
Maybe someone can help me with this, I am in the process of purchasing a home I am using a VA loan. here is what has happened.
1. In 11/2014 I was approved by the lender for 300k and began my search. in 01/2015 I found a property for 265k an submitted an offer after some negotiations we (the seller and I) came to am agreed purchase price of 247k with 3% seller concession.
2. the paperwork was submitted to the lender with the property listing, disclosures & the signed contract on 2/4/15 with an agreed mortgage commitment date of 3/20/15 and a closing on or before 3/26/15.
3. the lender approved the purchase agreement and sent the mortgage commitment on 3/17/15 with a rate of 4.25% guaranteed through 4/15/15 then said it had to go through underwriting.
4. They then ordered the appraisal and said the reason it was not ordered earlier was because I told them not to do so this was a lie (i have more details on this)
5. The closing date of on or before 3/26/15 was missed due to the home appraisal, the seller and I agreed to push it back one week to 4/2/15 (today)
6. The lender on 3/30/15 then said that a Well water test needed to be done as it is a VA requirement and they were unaware of a well (again they had the listing, disclose and signed contract showing there was a well) my realtor went to the property and pulled a sample and took it to for testing it was deemed as potable water however the Iron levels were high. (the well had been turned off in early February after the contract was signed as the house is unoccupied)
7. The lender is now saying we need to postpone the closing again, I have already notified (two weeks back) to the lender and the agents involved that the following week 4/13-4/17 I am unavailable due to work requirements.
What are my options?
