Skip to main content

Late for closing, any options?

Miami, FL |

Yes today new Year's eve, i got the news that the house was put back in the market since the seller (Bank) did not accept my extension request and 30 minutes later I finally got message saying title company was now clear to close. So I could be closing next week.. Problem was my lender underwriter and the appraisal could not come up with a FHA acceptable report it took them 2 weeks!!, original closing date Dec 18, then 23 then 31 and they still missed it, I called and called and email every single day almost every hour and could not get them to hurry, what are my options is this legal, i lost my opportunity (2 years of searching and trying) my deposit, inspections fees, appraisal fees, etc It feels so unfair and frustrating. Any help anyone?

+ Read More

Attorney answers 1


Although I find foreclosing banks more difficult to deal with than homeowners, it may just take some negotiating to resolve this. The Bank should prefer to close this next week than to have to start the sales process all over again. Possibly a payment to them might resolve things - then go to your lender and see if they will give you a concession on your fees to cover that.

This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance