For those of you who keep up with my blogs, you know I've been waiting and waiting for a Drama-free transaction... I'm almost there, but don't want to jinx it. In the meantime, here's some more drama for you...
I have a deal that should have closed March 27. I represent the seller. The seller has kindly allowed extensions, but "kindly" is going out the door. They asked for another extension on Friday stating they were taking their loan elsewhere and needed another couple of weeks for financing to go through.
My seller and I came up with a counter stating tax prorations would hault as of the original close date, his title policy will be paid at the original contract price and the buyer would be responsible for the escrow he wanted to create, and a couple of other very reasonable things to help my seller recoup some of the costs since he already moved out.
Come to find out, one of the reasons it hasn't closed is because the mortgage person's son broke his ankle. HUH? I'm sorry, but what part of your teenage son breaking his ankle has to do with a contract with a date on it? Our Texas purchase agreement is a legally binding contract. When dates aren't met, the party who doesn't perform is in DEFAULT. Do you think the mortgage person cared? When I asked her why she didn't have someone else handling the file, her response was that the buyer was the son of a friend of hers for 30+ years and that he understands.
He understands?? Who cares if the buyer understands. My SELLER doesn't understand, and we don't care about your personal life. No offense, but this is business, and it's business for my seller to stop paying for two places to live and two sets of utilities because he already moved out because the mortgage lady "promised" an April 18 closing after two previous extentions.
Why promise when you can't get it done? What happened to the saying to Under Promise and Over Deliver?
Against my advice, my seller extended the contract this morning with only a stipulation of the buyer contacting one of my lenders to get his credit pulled to make sure it's not his credit that is preventing this from closing.
And the Drama continues...