Closing Delayed By Seller (Bank Owned Property)
So this is a first for me, I was scheduled to close on a bank owned property this Friday, May 20. The bank has now asked that we delay closing because their title company is not ready. Has anyone had this happen before? Does this bring up any red flags I should be aware of? Further details below.
Home was foreclosed on in December, and my offer was accepted April 22nd. The only thing I can think of is that I discovered an owed balance on the water bill from the owner pre-foreclosure. I mentioned this to the sellers agent about an hour before they asked to delay closing. It is only a $100 past due, but is this a sign that I should be looking for other liens against the property? Is there anything I can do to protect myself other than bringing it up to my lawyer and asking him to do a thorough review? Thank you team BiggerPockets.