Home Buying in Des Moines>Question Details

Melissa, Home Buyer in Des Moines, IA

I have a closing date on a short sale for the 16th of july 2009. Can the closing date change?

Asked by Melissa, Des Moines, IA Thu Jul 9, 2009

Also our rae has been locked.

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Short sales can be difficult because you can be at the mercy of the short sale institution. The date cannot be be changed without your agreeing to it. Question is, do you still want the house? If so there should be documents needing signed extending the closing date and you'll have to be patient. If not, consult with your realtor, his broker, and an attorney. Many purchase contracts have a provision that makes it voidable if the interest rate goes over a certain number or past a certain date. Good Luck!-John
0 votes Thank Flag Link Thu Jul 9, 2009
Simply put, yes. In a short-sale, there are many things that can delay a timely closing. Just prepare to be patient, retrieve last minute documentation & signatures, and communicate extensively with your lender regarding delays. It can a lot of "hurry up and wait". Good luck!
0 votes Thank Flag Link Thu Jul 9, 2009
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