cassandrawelles
New Member
Hi,
I need your advice please.
We are trying to buy an apartment in a short sale. These are the facts:
1. The purchaser agreement with a duration of 90 days has expired. We were asked by the seller's attorneys to sign for the second time an extension. We signed it last week, but they never returned to us this document of extension signed by the seller.
2. The new date for closing is the day after tomorrow. But we, the buyers, and our attorneys haven't received any kind of confirmation from the seller and his attorneys. Because of frictions, there is no efficient communication between lawyers of the two parties.
3. The mortgage agent of my bank told us that the loan agreement will expire on Thursday. We will have to renegotiate the rate.
My questions are:
For how long can the seller and his attorneys try to postpone the closing date?
What are the possibilities of losing my downpayment (there is no purchaser agreement to protect me)?
Thank you so much for the help.
Cassandra Welles
I need your advice please.
We are trying to buy an apartment in a short sale. These are the facts:
1. The purchaser agreement with a duration of 90 days has expired. We were asked by the seller's attorneys to sign for the second time an extension. We signed it last week, but they never returned to us this document of extension signed by the seller.
2. The new date for closing is the day after tomorrow. But we, the buyers, and our attorneys haven't received any kind of confirmation from the seller and his attorneys. Because of frictions, there is no efficient communication between lawyers of the two parties.
3. The mortgage agent of my bank told us that the loan agreement will expire on Thursday. We will have to renegotiate the rate.
My questions are:
For how long can the seller and his attorneys try to postpone the closing date?
What are the possibilities of losing my downpayment (there is no purchaser agreement to protect me)?
Thank you so much for the help.
Cassandra Welles
