Mortgage/Lender Question

Three days is no big deal, but you should have a non refundable deposit by now as I am sure all contingincies have been removed by this point. If you are concerned, call his lender. I take it you don't have a realestate agent on your side of the transaction. If you do, they should be able to find out what the deal is.

 

three days... ha ha. i've been waiting for nearly a month for the buyers bank to finish their docs. don't waste your time calling the bank they'll blow you off with some blah blah crappolla; and calling the broker; we've skinned one agent already and am working on dismemebering the second.

 

YES! and i hate it. As a real estate agent i can tell you that it is quite common if your agent did not stay on top of things. But even then you can only count on what the mortgage broker or bank is telling you. There is really no way for the agent to push things along at this point. Just make sure you have a non-refundable deposit and wait.

 

I doubt the buyer is trying to break the contract. While the old saying is that, "buyers are liars" it is more likely that the lender is arrogant. If I wanted to break a contract, it wouldn't be over a three day thing. More likely, the lender is a mortgage company with the usual idiots working the contract.

 

the recent sub prime blow up has thrown a wrench in the whole process. expect delays.