Asked by Lateescrow, Los Angeles, CA • Fri Jul 27, 2012
I am the seller. I busted my butt and spent all my $$'s to pass the appraisers inspection, including tenting for termites. The house was fully cleared by the appraiser on 07/20/12. Prior to that date the lender had stated all required information was in from buyers and they were only waiting for the appraisers report. It's the 27th and still no loan docs. The date to close is 07/29/12 and the buyers will not make it. This causes me to have to pay an additional house payment plus the loss of rental income as I moved my tenants out a month ago. The buyers have held this up (they went on a 12 vacation to Hawaii). I was more than generous with paying most of their closing cost. Now I'm the one in a bind with no money left to pay another month of mortgage. Is asking for $100 per day reasonable? That is about what I'm losing per day because they were unable to close in the 40 day escrow period. Also note they did remove all contingencies including the loan contingency.
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