Asked by Gary Charlton, • Tue Aug 21, 2012
Help! It is day 54 of a 30 day closing (seller insisted). I signed off on loan contingency on day 17 (was bank pre-approved for much higher amount/ assurances they would approve by day 30. They didn't through no fault of mine. Seller signed two extensions covering up to day 44. Seller refused to sign further extensions. On day 47 Seller signed a 3 day Demand to Close (i.e. to 3pm of day 50). On day 50 I offered to pay him $50 a day for every day as of day 54. Late on day 51 (a Friday) bank finally approved loan and docs arrived on day 54 (Monday). On day 52 Seller demanded an extra $1000 or said he wonâ€™t sign the escrow closing docs... I have done everything required plus more (deposited full down payment two weeks early as loan approval was "any day now", drove 400 miles twice! to sign escrow docs that didnâ€™t come). Note, Seller will be my Tenant after closing.
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