The prior answer here by Carol was helpful, and here procedure at Tennessee would be similar to ours here in California.

If you are using a Realtor as your listing side agent, that's good. Please be in constant contact with your Realtor who will dig out the answers to the present situation you described. If that agent is unable to get satisfactory answers and move the transaction toward closing, based upon terms of contract, you should only then consider hiring counsel. It's common that bumpy things happen during the escrow road here in California. Hopefully, your Realtor agent can get it worked out to your contract and satisfaction.

Harrison K. Long
Realtor and broker, Coldwell Banker Previews
Irvine, CA
949-854-7747

Most purchase contracts have a period of time (the contingency period) in which all contingencies, including the loan, need to be dealt with and the contingencies should be removed in writing during that contngency period. If they were not dealt with, someone was asleep at the switch and that someone is likely your listing agent. This is a question that borders on legal issues most properly handled by a lawyer. You should take all of your papers to a qualified real estate lawyer who can give you the proper advice as to what your rights are and how you can deal with them. This is beyond the expertise of a real estate agent.

If the appraisal hasn't been done yet, there is no way you will close even by Friday of this week. If there are issues with the appraisal, then your agent and the buyers agent should discuss and disclose what they are. If the buyer is trying to get an FHA loan, we have seen some delays with appraisals and in turn loan processing. You need to contact your agent to find out what the issues are. Extending the close of escrow is possible and will need to be done ASAP on the sale of your home and your upleg purchase too. This way, the contract stays in effect.

Best of luck,
Robert M. van der Goes & Associates

i know it can be upsetting. The listing agent on your home should have been keeping close contact with the buyers agent to be sure everything was on course. Sometimes things happen that can't be avoided. What I would do is have your agent find out from the lender exactly........ what the hold up is and when you will be closing so you can update the seller on your home. In Tennessee, as long as all parties are working toward closing, the closing date may be amended and all parties sign. hope this helps and good luck with your new home!