Best of Luck,
Century 21 Tenace
Now, distinct from a foreclosure sale with addendum(s) from the bank, a short sale typical involves a written approval letter from the bank that is issue either by an on staff negotiator or possibly via a third party negotiator hired by the bank. In many cases, this written letter specifies among other things, the specific date by which the approval requires closing to occur. This may or may not coincide with the original contract. Our experience is its far better to work within reasonable terms than push an issue such as closing per original date and execute an amendment to modify the closing date as needed. If the bank can not facilitate a 29th closing you risk losing the approval all together (as odd as it sounds, we've seen it happen).
My supposition is bank desires to avoid having to staff during period between Christmas and New Years. Good luck.
If all fails, have your lender write a letter stating where you are in the loan process. A good short sale agent or negotiator should be able to get the closing date extended.
Alot depends on what rights you waved in the banks own amendment to contract. All I can speak of is the standard TREC form itself. Is closing early necessarily a bad thing for you ? Technically your closing date is not scheduled for the 29th it is set to close prior to that date it self. The bank , your lender and the title company and the speed in which they work dictates on how fast the property closes. I would edvice you to speak with your own real estate agent and see if there is a way to schedule closing for the 29th the bank reserves the right to close when they want in most cases however I don't see why you wouldn't be able to close after they do once again it depends on your particular case. The title company, agents and all parties in fact should be contacted about your desire to close according to your schedule. In regards to a short sale it self, the party responsible for signing ont the banks end might not be present on the 29th, SEEK MORE DETAILS!!! There is a reason I think its the holiday season but who knows.
Keller Williams Realty
3xUS Army Veteran
Probably someone at the short sale bank is going on vacation and will not be there to sign. This is a very tricky time period. I would get the agents involved and find out who when where what time and who else can sign and work contracts during this time period. If you don't do this you could well be closing in January.
Now, if the lenders do not have your documents ready by then--AND if they can't find someone who actually will be open/working on Christmas day, guess they won't be closing Dec 25.
I haven't ever really heard of that happening-especially on a day when title co offices and banks are closed.