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I don't know if there is anything else I can do to get the lender my buyer has chosen to purchase my home to
do their part but here has what has been going on. The person buying my home supposedly has met all the requirements and their lender has been lying to us for weeks. Our closing was to be July 12 and that gave them 45 days to get everything done. Even 4 days before the closing with no appraisal and survey done the lender still said they were ordered and we would close that day!
Of course it didn't happen. I asked for proof on the 12th they ordered the appraisal and they finally admitted they didn't order it until that day!!! They sent me a copy of the work order. The appraiser had until the 19th to get it to them and he was here last week and did it.
Things were looking better! I had signed the extension giving the lender two more weeks and the appraisal was done on time. The closing is supposed to be this Friday the 26th. The loan officer they have told me the survey was ordered. I asked last Friday and yesterday if he had any info on what day it would be. No response was given other than he would ask "Linda." Today I asked him for this Linda ladies phone number. I called it and it was a disconnected number. I looked on the net for a Linda that works at this lending office.
BINGO!
Found her!! She has to order the things to be done. I call her cell and even though it's 11:30 she made it very clear she was at lunch (boo hoo) and all she would tell me ( yes, I was nice to her) is that she hasn't even got the appraisal back and then silence. She claims later she didn't hang up on me.
The work order said the appraiser HAD to get it to them by the 19th. From what I have been told told it's standard they have one week to get it to them and the man who did it seemed very professional. They have lied in the past many times to us and our real estate agents so it's hard to believe anything they say at this point. They have lots of very bad reviews on the net and complaints with the BBB. I don't think
they have even ordered the survey.
Of course we are trying to buy another home in another city with a contingency based on this sale.
My husband has worked out of town in this city a few years and we are trying to get together as a family again. We may lose the house we want if our home doesn't close Friday. The contingency that will be removed when ours closes says that he can still sell the house to someone else while waiting and he can void our contract if the closing doesn't happen Friday. The man whose house we want is paying to be in a hotel room until we can close with him. He moved out because his stuff all has to be shipped to Guam where his wife was transferred. School starts there August 8th and it's very hard to find a decent reasonable house there with good schools. Any of the other houses we considered have sold.
If we lose the house we want because this lender being used to buy our current home can't seem to get anything done I am going to flip out bad. I am so mad right now. We have a fantastic home waiting only a few more days for us. The contract on my home that will already has had one extension has made my home off the market most of the whole summer and I had someone offer me more money and cash a week after we accepted their contract. (that person is no longer interested)
Any ideas to get the lender to perform would be appreciated. I don't know why buyers, sellers, and agents are expected to perform to certain standards on a time frame or can be sued yet lenders can do what ever they want and we are all at their mercy. SO sorry I disturbed her early lunch!!
Sounds like you might be best served by converting your venom to sugar and explaining the situation to the parties involved in your purchase, as opposed to beating your head against the wall trying to spur your sale. The Domino Effect that occurs when one transaction is delayed, is not uncommon. You will likely get more traction in buying time on that side, as opposed to suddenly inducing swift action on the sell side.
I hope the sellers of the property that you want are kind and compassionate people, and understand that it is a rather imperfect process, but they sense that you are a good person in a bad situation.
I understand what your saying. I have been very nice to everyone and explained our situation and it seems the lender just prefers to be dishonest and play games with everyone. They have a bad reputation for it. It just seems sad in this world the nicer I really am to people I just always get ran all over and things only seem to happen if I start playing hardball.
The sellers of the place we want seem nice but she is a military cop and he is an ex federal agent so they don't bend much.
They had someone to lease the place to and were going to sign the lease agreement the night my husband went to look at the place telling them we were serious about buying it. He turned down a lease for us and is only waiting to fly across the ocean for our closing with him. He would be gone by now if it wasn't for us.
I have had a headache for a week from all of this. Literally!
Exactly, without knowing the lender or the location of the office (doesn't have to be an exact address, but city and state) we can't tell you the hierarchy, nor their policy and procedures. Your file could be at someone like Chase who has the appraisal back, but it's being reviewed by their compliance or underwriters before they even log it in......or it could be with someone like Bank of America and it's in the black hole. Everyone has their individual glitches. We may not know all of them, but I think you will find a wealth of information on this forum.
Oh, I didn't know if I could say the lender. It's RH Lending. The extension gave them two more weeks and they still didn't get the survey done. The closing was supposed to be tomorrow, Friday. Now they claim they are paying for a rushed survey that will be on Monday and should be able to close Wednesday. They are a smaller local lender who does their own underwriting and boast how fast they are at getting loans closed in advertising. My neighbor said she has heard their ads on the radio. hahahahhahahahahaahahah- to the fast part!
OMG! We have very similar situation here. We are the sellers. The buyers have signed contract for 3 months ago, we set the date for closing was on July 5th, but just a few days before closing, they came back with an appraisal for $12K below our sale price.
Because we need to sell this house in order to purchase another house so we agreed to meet in the middle with the buyers proposal which we lost $6,000 just because of the sucking appraisal. We were so extremely mad but we let it goes.
Then after that the buyers lender came back and said they need 3 more weeks in order to process the paper work, wow I have no idea what they've been doing, but well, we agreed to that, so we suppose to close yesterday July 26. Guess what, a week before closing, the buyers agent tried to contact the lender so many times, even the Title company send the paper works to the lender but the lender refused to respond any emails or phone call from either buyer agents or Title company.
for a whole week the lender decided to be silent until the closing day in the afternoon the lender said they need another week to review the paperwork because they didn't see any emails or any documents from the Title company (which of course they lied). How could they miss the emails from the Title company? I've contacted the Title company and they said they have been trying to contacts with emails but no one response. Now, just want to make it smooth, we have to agree another week until next Friday Aug 2nd.
I've gone through somewhat similar situations in the past but if anything the deals we have made recently have been too easy. I won't go into that now. But we bought a house back in the late '70s that seemed to take forever. It was a FHA/VA loan. It was always something new every day. The most ridiculous was the "set-back" as laid out in the platting. Seemed it was 1/2 foot too close to the street and they had to get affidavits from all of the neighbors that this didn't pose a problem or so I was told. This was on a house that was over 20 years old. Just ridiculous.
What you need to do is to contact someone who actually knows what is going on and will tell you what the deal is. If you can't get answers from anyone then I would probably be on top of the agent like you know what. I can be very unpleasant. Go over his or her head to the broker. And don't let them jerk you around. I had to do this when we lived in Texas and the agent got upset. Had she been doing her job and running herd over the people involved I wouldn't have been concerned. The appraisal wasn't even done until the last minute and the buyer was on the west coast and all this was done via e-mail and over nighting of documents. I didn't know if we had even sold this house for sure until we were on the road to our new home here. Don't drop your insurance until all the work has been completed.
The title company also can be helpful. When we moved here it moved quickly; like three weeks to closing. My problem is that we have two houses and we need only one. That's another story for a different time.
Sometimes it is best to reject a contract if the lender is unscrupulous as this one appears to be. And then one time we sold a house and the buyer kept showing up at our house almost every day to ask some new question. We finally got so frustrated that we told our agent he could get out of the contract if he wanted to. We had had enough from the "buyer from Hell." And then he only lived there for six months before he sold it and moved on.
Butterflies,
We were supposed to close yesterday again but now they are TRYING to make the closing happen today. UG!
How are things looking for you? The appraisal of the house we want to buy came back $10,900 less. We are waiting now to see what that seller will do. I know it's frustrating for any seller for that to happen.
Missouri,
The buyers agent here is married to the broker. I think she is doing everything she can from talking to her. We talk directly now and have bypassed my agent because he is hard to reach and forgetful. My agent is a broker too,,,,,,,
The title company is now pushing the lender today. That would drive me batty if the buyer knocked on my door everyday!
We are now getting mail at our house addressed to the buyer who doesn't own our house yet and they had the electric put in their name yesterday and here we all sit waiting on a lender who lies to us all everyday telling us it will close the next day.
My husband took off work yesterday and today for the closing being told it would happen. The lender is telling us again tomorrow!!!!!!!!
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