Asked by Tony, Lagrangeville, NY • Mon Dec 29, 2008
The Time Being of the Essence extension Deadline expires Jan 7.We do not have a firm mortgage commitment in writing from the buyers from a lender yetThat is 6 banking days from now! Also, if buyers want to do walk through they were given the option in contract to do it 48 hours before.That only gives us 4 days to get ready.We live out of state and need a full day for traveling. We will need time to get lodging, get paperwork from the bank in order like the payoff for our mortgage.We will need to have the tax adjustments,and fuel and other stuff essential to closing made available.The more I go over this in my mind the less likely closing seems to be able to happen! We want to know asap as to whether they are ready to close.Their agent has only said"it looks very promising for them".How long does it take for a bank to approve a mortgage?They applied to this bank over a week ago.They have been at this for over 2 months! Can we demand to get a mortgage commitment in writing by tomorrow?
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