Asked by Jen, Narragansett, RI • Sun Dec 5, 2010
Thanks. We are presently renting the home from the seller. The seller seems to be negligent or very slow moving in providing the bank with documentation and the sellers agent seems to be doing nothing. We didn't want to move and the house was a good deal so we entered into the P&S a year ago, but at this point we are expecting a baby and have decided we need to either buy this place and do some work on it or buy another property that suits our needs. Are we still bound by the P&S if the bank has not yet approved and the closing date is stated as Nov. 15 of 2009? The P&S has an additional provision stating that the agreement is subject to approval by mortgage holders. Thanks for any advice you could offer!
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