My boyfriend and I are buying a house. We’ve done everything needed on our end. When we put in our purchase offer, it was determined that we would close by October 3, which is the date the mortgage commitment is good until.
Right now we’re waiting for the sellers’ attorney to send our attorney the info so she can write up the title and finalize everything for the closing (our attorney said she can close within a week as long as there are no problems with the title). We found out today that the sellers and their attorney haven’t “taken care of some things” (quoting my bf, I don’t know if the attorney was more specific). Right now we’re concerned that we won’t be able to close by October 3. If closing is delayed due to the sellers’ or their attorney’s negligence in getting things prepared, what should our next step be? Do we have any legal recourse?
We did work with a real estate agent, we didn’t even contact a lawyer until after the purchase offer was accepted (I know it’s different in every state, in NY you have to have lawyers even if you use real estate agents).
How long does it usually take to get the rate lock extended (meaning, if we contacted the lender today, how long would we need to get the paperwork turned around)?
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