Waiting for the seller is getting very frustrating! Typical?

[Luv2Scrap]

Our closing date is tomorrow, and the sellers, who live in the UK, are still having "issues" getting all their documents in. Now I'm hearing the earliest they can get their last document in is Thursday.

I received my documents via email on the 5th and had them in the mail with my payment on the 6th. I want to book a studio for Aug/Sept and I'm so tired of WAITING!!!

Is this typical of how closing goes when buying resale? Sellers dragging their feet?

 

[bastraker]

Doesn't seem to be the norm but if it makes you feel any better you're not alone. I'm in pretty much the same boat, closing date is approaching fast, and my sellers are in this country.. Good luck!!

 

[DenLo]

Our sellers were very fast to return the acceptance bid. However, they took awhile to sign the final contact. Not as long as the OPs though. At least you know they will be signing the final contract.

Waiting is so hard to do!

 

[cvjw]

That is the downside of buying resale. We are in the same boat also. We will probably let our contract expire and just get our deposit back. We passed ROFR over 3 weeks ago, and don't even have closing documents yet. Our seller is in the US, but just isn't interested in fulfilling his obligations. FYI, this is our 4th contract, and the only one not to close in a timely manner. Our quickest closing contract had sellers in the UK - they were very motivated!

 

[Cap]

Buyers and Sellers have individual motivations. On my most recent purchase, even though we passed ROFR very quickly, I advised the resale company that I did not plan to pay / close until the very last day of the contract. This was for cash flow reasons and I did not immediately need the points.

I don't know if the resale company passed that info on to the seller, or if they just let them hang thinking they had a "slow" buyer.

 

[dis-happy]

I've read in previous posts that getting a notary in the UK is difficult. Could be part of the problem???

Hope the rest of it goes quickly for you. In the meantime, stay in close contact with your closing agent...he should be doing everything possible to keep things moving along. If you are close to your final closing date listed in the contract you have the option of telling them you will not go through if they don't finish in time...that might be a motivation.

 

[wdwnut]

The first resale contract for add on #3 I found was PERFECT. Only problem was an unmotivated seller in the UK. There is a significant charge (like $300) to get docs notarized, and the seller kept dragging his feet. Closing day came and went (with numerous phone calls to TSS and the title company). Needless to say, after wasting so much time, I cancelled. Within a week or so, I found another contract with motivated sellers. We had an agreement within an hour and closed within the week of passing ROFR. Good luck with your contract. Has the seller been in contact with either the broker or title company?

 

[ercrbc]

How frustrating! Luv2scrap I hope you get the paperwork in on time and can close! I remember you found a pretty rare to come by contract, fingers crossed it doesn't slip through b/c of slack sellers!

We are just starting the waiting to close process, I don't think I have the patience to go through ROFR again if this doesn't work out!