For every action or response figure at least two weeks in-between.
Normally, once all the contracts are signed Indymac and other banks request at least 90 days POST signing to close, and normally close in 45-60 days after everything has been signed.
Cash deals have nothing to do with it. It is just there paperwork tail and processing time.
On another note, cash purchases can take longer then FHA financed purchases in some cases.
Cash purchases tend to indicate an investor. Investors are not in Favor with the Neighborhood Stabilization act of 2010. ie Owner Occupied with FHA backed Loan takes all precedents in buying bank / Government owned REO properties.
You're stuck with a bank that was bailed out by Senor obama. Although he never managed any business in his life, he's now given BigBanks the keys to our financial present and future. Here's what's really going on:
The banks can do whatever they want. They are thieves, stealing from each an every one of us with the blessing of the US government. They should have been forced into insolvency and made to close their doors, but instead they are $%#* the American taxpayers, each and every one of us.
GOOD LUCK and I hope things work out for you. Watch the video, it'll shed some light as to what's really going on.
Scott Miller, Realty Associates, Boca Raton, FL
Don't set the closing date for any sooner than 21 days out. 30 preferable in this case. You will have to have an addendum for the extended closing date - and as mentioned before, Indymac will have to sign this.
Typically in foreclosure deals and short sales that we've seen, part of the addendums that the bank has you sign also states that once you go past the actual closing date, you will be charged X amount of dollars per day (per diem) until it closes.
So, first make sure that you do have a deal. Make sure that the signed contract is on it's way back to you by actually talking with someone at Indy Mac who has their hands on the paperwork. The final "signature" person that is assigned to put the final signature on contracts. They all have a different name for this person.
Then make sure that there is a realistic new closing date, that gives you time to complete title work and necessary due diligence to complete the transaction, whether that means that they have updated the closing date or signing an addendum.
You asked about your earnest money in your first post.
Where is your earnest money? Did you give it up without a signed contract?
Welcome to the world of dealing with banks, particularly banks that crashed and are being serviced by another bank.
I don't really push people to have a Buyer's Agent, but this sounds like an instance where you could have used good representation.
It is up to an attorney to answer, but since you don't have a contract in writing, I don't see how they can keep your deposit. Though, I am wondering why they have your deposit without a signed contract.
At this point, you need to get a copy of a signed contract. No bank will even consider selling a property without a signed contract. And if you can't seem to get a copy of a signed contract, I would have your attorney consult with your agent and/or IndyMac to determine status.