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Real Estate Deal Analysis & Advice

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David Kosiorek
  • Investor
  • New York, NY
43
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90
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Venting

David Kosiorek
  • Investor
  • New York, NY
Posted Sep 30 2014, 18:44

Situation: Townhome that was REO in which the bank accepted my offer after FOUR counteroffers.... Then nit picked my initials on the offer document 3 seperate times in which since my name is written (first, last, Jr) they did not like me signing DMK for initials... So then the bank required 10% EMD Cashiers check 2 days after acceptance... with a 12 day closing (calendar days). Well Friday is the 12th day, which I planned to close. Bank isn't ready / title company just got paperwork, 10 day delay. Do I have any recourse? I'm not in the business of giving out interest free loans, certainly to banks.

Yes, I still want the property.  Yes, this will easily be a success story in about 45 days or so.  

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