This sounds like a purely emotional reaction. Yes, no one likes it when things
don't turn out as we were told they would. I'm certain your buyer must feel the
Lenders can only give time limits that they assume they can meet when everything else goes according to plan and typical time limits. However, when a lender is kept waiting an inexplicably long time for some
documentation from another company, they can do nothing but wait. All documents must be assembled
and go through underwriting before closing can be allowed to take place for everyone's safety.
Take for granted that your buyer may be just as surprised, upset and put out as are you. I wouldn't punish
him automatically for his lender's inability to get things together on time.
But you said, "At this point it would be easier for me to just stay where I'm at!" That suggests a change of
heart and faith.
Am I misreading?
Do you know why the agent delayed to next week? Has your agent spoken
to your buyer's lender to ask why the delay and how firm the closing is
for next week? Or indeed, is it an agent who needs to delay the closing?
Is it so easy to find willing and able buyers in your area that you can brush
this one aside and wait for the next? Are you going to pay your agent who brought you a willing and able buyer as he promised, if you do not go through with this sale? Are you ready and willing to give the buyer his earnest money back?
Why is it better for you to have no sale than a sale 7 days later?
Typically, good faith implies that a seller who wants to sell and a buyer who wants to buy have entered
into an agreement on a particular piece of property. When snafus arise we normally put our heads
together and work through them to mutual satisfaction and closing.
There's just a lot you're not saying.