seller's obligation
I have an REO property under contract. We were scheduled to close tomorrow, but the bank said that the sherrif's sale deed was not filed yet, so I need to wait until it is. In the mean time my broker tells me that if we don't close the loan tomorrow we will have to file for an extension on the load because interest rates are rising. This would cost me as much as $500 if I extend for a month. My question is should the seller be responsible to pay this? Do I have any options besides terminating the contract? Should I extend the contract? If I do extend for a month and then they deed is still not fixed I lose that money also.