Seller hasn't returned closing docs

[huskerfanatic7]

we received them on 5/25 and in the contract the closing date is 6/13 which is tomorrow. My broker got a hold of the sellers last week and said they would send the closing docs back asap and still nothing. what happens if the contract doesn't close on time? Anyone go through this before? This is beyond frustrating!

 

[TexasChick123]

we received them on 5/25 and in the contract the closing date is 6/13 which is tomorrow. My broker got a hold of the sellers last week and said they would send the closing docs back asap and still nothing. what happens if the contract doesn't close on time? Anyone go through this before? This is beyond frustrating!

I went through something similar. You have the option to cancel if they don't close on the closing date without penalty. I had a seller that held on to the closing docs for 2 months! You can always threaten to cancel if they don't have them returned by "x" date. Sometimes life gets in the way. Other times, people are shady.

 

[imaginiff]

Yup, had a buyer that sat on the initial contract for over a week...broker contacted them and cancelled and relisted....very frustrating from a seller's point of view, but sold the contract again very quickly. However, if new buyers don't turn around their paperwork fast enough, we will be looking for another broker. Buyers also play the "multiple brokers" game. I hope it all works out for you. If it does not work out, I don't think you, as the buyer, gets any kind of "thing" except your money back. Fingers crossed.

 

[crisi]

I went through something similar. You have the option to cancel if they don't close on the closing date without penalty. I had a seller that held on to the closing docs for 2 months! You can always threaten to cancel if they don't have them returned by "x" date. Sometimes life gets in the way. Other times, people are shady.

And sometimes they list uncertain that they really want to sell. If they are divided about it, they might drag their feet on sending in the documents - then finally pull the sale.

 

[keishashadow]

Sorry, my sellers dragging their feet too arrgh

The broker needs to call them again

 

[jbh275]

I too lost a BLT contract. Out of country sellers. They went on vacation and didn't check email. After two weeks we finally gave up. Ended up with VGF instead!!!! But it was a pain.

 

[sndral]

A couple of years ago my AKV sellers were divorcing and dawdled on returning their closing documents - broker said it was hard to get them notarized for the sellers, I finally said it was 'hard' for me to pull several thousand dollars out of my account and get a certified check to the closing company, but I managed to get that accomplished and to the brokerage in 3 days - if the doc.s aren't back by X date then I'm walking - it worked.
International sellers may have legitimate issues finding a notary as they aren't common in some countries like they are here in the USA.
Also if the sellers have to bring money to the table to close (eg: they owe more on their loan on the points than what they are getting in the sale) it can sometimes take some time for them to get their funds together.
Don't know if you followed this thread from a week ago - and it doesn't seem to apply in your case (not waiting on sellers to take a last trip,) but some sellers seem to be oblivious to the fact that many buyers really want to close the deal and gain access to those points they are paying a lot of money for.
https://www.disboards.com/threads/extended-closing-date.3610004/

 

[huskerfanatic7]

woo hoo!! they received the sellers docs and closed today... now on to another wait

 

[disneynutz]

I too lost a BLT contract. Out of country sellers. They went on vacation and didn't check email. After two weeks we finally gave up. Ended up with VGF instead!!!! But it was a pain.

You may be happier at VGF, we are.

Bill

 

[mustinjourney]

woo hoo!! they received the sellers docs and closed today... now on to another wait

glad it worked out for you. I went through thus last year with international sellers. They kept screwing up the notarization step. Took them 2 weeks to schedule a meeting, then they forgot to bring witnesses (I even told the broker to remind them to bring witnesses), so they had to wait another 2 weeks for an opening. Very frustrating. Luckily it was my 2nd contract and I didn't need the points right away...but I have been there before too.

Hopefully the rest is seamless for you.

and of course...

WELCOME HOME!

 

[Matty B13]

Congratulations!