Asked by Tony, Lagrangeville, NY • Thu Jan 1, 2009
I do not think I am being given all the information I should have by the Buyer's agent. The Buyer's agent has been , we feel, putting us off as to what the status of our buyer's mortgage is. Final date for closing is about 4 banking days away ( Our lawyer has issued a Time Being of The Essence and an extension on that also ) and we have only been told that they have a "conditional commitment". They have gone beyond their mortgage commitment contingency and did not notify us that they did not secure a mortgage within that deadline.( Part of the contract stated they had to notify seller in writing within a timeframe)Will the bank give me any info at all if I contact them? Buyer's are very close to being in default and we think they are looking for an angle to get out of the contract without a penalty at this point. We think they have no intention of closing. ( It's been about 3 months which includes an extension.
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