ritar
07-26-2007, 07:05 PM
Hello friends,
I have the situation I need help with.
I’m representing the seller on the transaction. We supposed to close today, 07/26.
My client fully performed: signed the documents, moved from the house.
On the Seller’s part there is delay: it started with the borrower’s changing the terms of loan, than it was mistake on the escrow part and docs needed to be redrawn. Than, today (07/26, the day we supposed to close) – new mistake in the Note.
I have been told about this problem Monday, by the escrow officer. Tuesday, when new documents came to the title I contacted seller’s agent. He told me that they’re going to sign Thursday! I reminded him about contract and advised that my seller would like to be compensated for the extinction of the escrow.
I faxed an Addendum suggesting the extension and request for the buyers to pay seller’s PITI.
I did not have any information from the agent, until 7:00 pm tonight. He blames the escrow officer and saying that his clients are not responsible for this delay.
What would be my course of action in this case?
Thank you for the advice.
I have the situation I need help with.
I’m representing the seller on the transaction. We supposed to close today, 07/26.
My client fully performed: signed the documents, moved from the house.
On the Seller’s part there is delay: it started with the borrower’s changing the terms of loan, than it was mistake on the escrow part and docs needed to be redrawn. Than, today (07/26, the day we supposed to close) – new mistake in the Note.
I have been told about this problem Monday, by the escrow officer. Tuesday, when new documents came to the title I contacted seller’s agent. He told me that they’re going to sign Thursday! I reminded him about contract and advised that my seller would like to be compensated for the extinction of the escrow.
I faxed an Addendum suggesting the extension and request for the buyers to pay seller’s PITI.
I did not have any information from the agent, until 7:00 pm tonight. He blames the escrow officer and saying that his clients are not responsible for this delay.
What would be my course of action in this case?
Thank you for the advice.