I am not sure you are doing the deal on your own, only with an attorney, with or without a Realtor....
So I am joining the other Realtors by telling you ....
If you are worried, check your contract and find the date due for the mortgage commitement from the lender, and talk to your Realtor or to your Attorney.....They will know when that date is, and it must be extended officially if the buyer or his lender cannot provide it by the date in contract.
Hope you have a good Realtor and a good Attorney on your side.
if you every know about anyone moving to Chicago or Northern Illlinois
send them my way they will get first class real estate service here!
I love reading these posts from people that apparently don't have Realtors involved.
At the risk of being naive, my question to you Abby is this: you are asking a serious question to folks on the web. In my professional opinion, the person best equiped to answer this is your REaltor. If you are using an attorney, then it is their job to advise you.
I am not copping out. My point is that none of us know exactly what the paperwork reads. None of us know the details. So the ONLY person that can advise you should have a fiduciary relationship with you.
In your contract, you should have a "mortgage commitment date" stating when your buyer contractually should have gotten their mortgage commitment. Check with your agent and read the purchase contract. Hope that helps.