Downside to sending wire before seller sends closing?

[Sandisw]

Then could the closing date on the document be revised? Mine is 30 days. Considering the seller signs off on that document & knows, having accepted the offer, that they will need to arrange time/place for notary, 2 weeks is reasonable. Of course, there would be exceptions is rare cases. Buyers know WE need to be ready to proceed when our offer is accepted. Seems fair.

No, they can’t change the closing date after the fact without both buyer and seller agreeing.

30 days? What is the actual date? And I had a seller that took a month. He was in the Navy. We received them mid June but closing was not until August 9th…so I had to wait. Now I did threaten to walk and lose deposit after we hit that mark, and he got them in ASAP.

 

[Adg0428]

In case anyone was curious… I’m back from vacation and no, the seller didn’t send in the documents yet.

 

[DKZB]

Have you followed up with the broker/title co?

I make a habit of following up weekly. I may be a pain but this week through my follow-up I found out the seller didn’t see the closing docs email and now the docs are in the mail to the title company.

 

[Adg0428]

Have you followed up with the broker/title co?

I make a habit of following up weekly. I may be a pain but this week through my follow-up I found out the seller didn’t see the closing docs email and now the docs are in the mail to the title company.

I spoke to her on Tuesday when she received the wire. I’ll call again on monday. We received the closing documents 10/28

 

[DKZB]

I spoke to her on Tuesday when she received the wire. I’ll call again on monday. We received the closing documents 10/28

In my case the broker was the one who was able to move things along. I would start there.

 

[AlldayIdreamaboutDisney]

I had a similar situation to you. I waited for the sellers to close for 40 days and finally caved and received all my money back. Apparently the sellers had owed money on dues and possibly a mortgage on the contract, my brokers (who were wonderful btw) attempted many times to reach them and suggest a resolution in order to close but the sellers ignored all attempts. They now will be in a lawsuit with the brokers due to their poor decisions to at least come clean and try to make things right. i would get the money back and move on.

 

[Adg0428]

I had a similar situation to you. I waited for the sellers to close for 40 days and finally caved and received all my money back. Apparently the sellers had owed money on dues and possibly a mortgage on the contract, my brokers (who were wonderful btw) attempted many times to reach them and suggest a resolution in order to close but the sellers ignored all attempts. They now will be in a lawsuit with the brokers due to their poor decisions to at least come clean and try to make things right. i would get the money back and move on.

Wow that’s unfortunate. It hasn’t been that long. I have until Nov 26th and then I can get my money back if documents still aren’t in.

 

[AlldayIdreamaboutDisney]

Wow that’s unfortunate. It hasn’t been that long. I have until Nov 26th and then I can get my money back if documents still aren’t in.

Thanks, yes I ended up putting an offer in another contract the same day I received my money back…crazy? Maybe lol

 

[Paul Stupin]

I’ve always wired my funds when I received the closing docs, without waiting for the seller. The escrow companies are all very reputable and I’ve no concerns I’ll actually lose the money should the sellers flake out. I also think that the leverage of holding back funds is basically meaningless as any sort of motivation for the seller.

For me, it’s just easier to get everything on my end resolved once I get the closing docs, so I don’t have to deal with it anymore.