I am buying a REO property and the seller, the REO company, is delaying approving the HUD1 and my agent and
the title company cannot figure out how to get them to move forward. Now my mortgage company is threatening to pull the funds if they don't approve and recording takes place. First of all - is there anything we (myself, my agent, or the title company) can do to move the process forward? Why would the REO seller delay approval when I (the buyer) am paying all of the closing costs? Do I, as the buyer, have any rights in this? Should I get a lawyer and try and sue them if they don't approve and my bank pulls the funds?
Your agent should be using the resources available to us Realtors, if he is Realtor member, he has access to a legal hotline, managing brokers, and the local, state, and national boards.
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Fair Housing and Equal Opportunity