Posted by River City on August 31, 2005 at 06:15:58:
Your purchase agreement should have addressed extensions of the contract and what must be done to effect them. Of course, you can ask the purchasers to do anything, however, if they do not agree, the contract will rule.
They are possibly going with another loan program because they did not qualify for the first program. However, if they were approved for the first loan program and they are changing programs “just because the terms are better” then you might have a case.
Do you have a listing realtor involved? This is when you really need their assistance.
CA escrow delayed because of buyers loan - Posted by Susan Delaney
Posted by Susan Delaney on August 30, 2005 at 17:43:53:
Quick question. I’m selling my house right now and the buyers just extented escrow 10 days because they wanted to go with a different loan program. I’m purchasing another house out of state, and if escrow is extended for 10 days, then I will have to pay rate lock extension fees for my other home loan (I’m closing both deals simultaniously because I need the money from my house to put down on another).Can I ask the buyers to pay for my rate lock extension fees?