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Old 04-24-2011, 06:07 PM
 
2 posts, read 2,290 times
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I am 4 days away from closing escrow on a home in orange county, ca. The only document we are waiting for is the HOA cert. The selling agent claims he is going to cancel our sale if the document isn't in by tuesday and we don't close by Thursday. But in our contract we agreed that every day after Thursday that we don't close whoever is holding up escrow owes $50 per day. We have already requested the HOA certs. So can the selling agent cancell our sale just because of that?

And the reason he wants to close within 28 days is so he can get a bonus.

Thank you in advance we are extremely stressed!

Last edited by Linz_a87; 04-24-2011 at 06:35 PM..
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Old 04-24-2011, 07:10 PM
 
Location: RSM
5,113 posts, read 19,761,775 times
Reputation: 1927
Whatever the contract says will stand(or should stand), but that doesn't mean they won't try to get out of it
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Old 04-24-2011, 07:14 PM
 
2 posts, read 2,290 times
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So what does that mean if they try to get out of it?
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Old 04-24-2011, 08:19 PM
 
Location: Columbia, California
6,664 posts, read 30,610,392 times
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I thought it would be the sellers responsibility to provide the HOA certification. But the loan officer will need it for the loan.
We were refinancing and was held up by the HOA cert, the bank was supposed to obtain it. It is free usually to the owner if requested 30 days ahead. I have had to go to the managing company each time and write a check for $100 to obtain it same day.
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