What happens if the bank gave the ok to close (between Aug 7th and Aug 17th) loan commitment expires Aug 18th?
but the seller refuses to close on any other day except for the day when the buyer is traveling for business. What kind of remedy does the buyer have of the closing does not take place and the loan commitment expires.
Answers (1)
FIRST ANSWER
This issue you have will require you to pay for an extended lock date. You need to go back to the bank a and find out how much is a 15 day extension lock on your loan. You then need to inform the seller and ask them to pay for half of the cost if they requiring a closing date after your currently lock date.
Aldo Grillo
Loan Officer
Advisors Mortgage Group
718-701-5650 Office
aldo@SureRatelock.com agrillo@advisorsmortgage.com
http://www.SureRateLock.Com
Web Reference: http://www.sureratelock.com
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