Unfortunately banks today don't care about their borrowers or sellers or any one else that is affected by their arrogance and incompetence. Remember the major banks took TARP money "they were too big to fail. They gave mortgages to people that were unqualified. They created a national economic and foreclosure crisis in the country. Both the major banks and investment houses committed fraud on home buyers and investors.
They don't even try to excuse their behavor because the American taxpayers have transferred funds to make them solvent and profits without risk, bonuses and free capital (TARP) yet the calaim they don't have funds for a conforming loan for a Manhattan coop or condo. They ignore rate lock deadlines and financing contingencies in contracts.
As a seller, you and your attorney must take the financing contingency dates and dealines very seriously. Are they past the deadline for a loan committment? Have they already received a committment but the bank is dragging thier feet about funding claiming they don't have money and they can't clear to close. Has an appraisal been done?The biggest banks in the world don't have money for a loan for a NYC apartment????
The buyers may be in default thanks to their bank. Community banks are more solvent, they didn't take the TARP money make loans base on their own criteria not government mandates. Community banks actually put money in their communities since the loans come from their deposits and they are not being packaged and sold to investors. There are many good community banks thjat are a pleasure to deal with.
Your broker needs to stay on top of the loan officer. I always do. Nothing about a mortgage these days can be left to chance. Underwriters and closing departments for major banks are often located in the mid west or perhaps even India and are clueless about NYC coops and condos