?

Log in

No account? Create an account

Previous Entry | Next Entry

Zero Power, 100% Blame

There’s a deal where the buyers are still working on obtaining all the updated documents the lender needs before final mortgage approval will be given. In this scenario, the buyers’ locked-in mortgage rate expires mid-month, and so they are desperate to firm up a closing date.

The sellers in this situation have understandably been reluctant to sign a lease for a new place to live until the buyers can no longer exercise the mortgage contingency clause and cancel the transaction.  Just to stir the pot, the buyers’ real estate agent reports that there’s “no sign of serious packing” going on in the house. 

Under these particular circumstances, my clients (the buyers), vigorously and repeatedly urge me to pressure the sellers to set up a closing date.  Despite the fact that their lender hasn’t issued a firm mortgage commitment, which would both compel the sellers to leave and provide me with the clout to set up an actual date, it appears likely that it will be my fault if the buyers pay an extra ¼% on their mortgage for the next 30 years.

Living this is enough of a headache, and now typing it has made my head pound even more.

Happy birthday, Wendy!

Profile

real_lawyer
LitaWrites

Latest Month

April 2018
S M T W T F S
1234567
891011121314
15161718192021
22232425262728
2930     

Tags

Powered by LiveJournal.com
Designed by Keri Maijala