Almost a month past original closing date -should i consult atty?
I will try and make this as brief as possible but I need some advice. You all have been very helpful in the past and I'm hoping you can help me again.
I am selling my pre-owned mobile home on 1.5 acres in the DFW area of Texas. I DO have a real estate agent who is very good. Mobile home is in very good condition and got under contract quickly with well qualified buyers.
Appraisal took FOREVER to come back (and you guys on the board helped me through that long process). That was what originally pushed our September 14th closing date back by a week. Then the loan officer said "oh gee, I'm still waiting on a septic tank inspection report and a well water report." Things that should have been done while waiting for the appraisal in my opinion! So there went another few days, then it went to underwriting, underwriting kicked it back and said we had to put in a driveway! Stupid if you ask me but we got that resolved.
Finally it went back to underwriting for the final time. Underwriting kept it for a week!!! Friday, it came out of underwriting and they said to have the buyers do one more verification of employment since it's been so long. Seems to me the loan officer would have thought of that already and been prepared for that. Monday was a bank holiday and nothing got done, yesterday the buyers were still waiting on their employers to send another VOE to the loan officer, today it's almost noon and I haven't had an update.
Whenever they get the VOE back, hopefully underwriting gives the clear to close and then we can finally get under the 3 day TRID/RESPA but Friday will mark a full month since our original projected closing date! I'm thinking that if we aren't in the 3 day waiting period with the buyers by Friday, I should just pull the plug on this.
In the meantime, we had already moved out a few days before the original closing date, rented PODS for our stuff, had to move in with family, lost out on being able to purchase a few homes we liked, and still of course having to pay for our house. I feel like if we refuse to extend the contract again on Friday, we should have some sort of recourse financially because this has been a nightmare! Does anyone know if the law would be on our side for something like this?
-Sarah