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Old 05-10-2013, 11:43 PM
 
1 posts, read 2,233 times
Reputation: 10

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I have a question. We got an offer on our home with conventional buyers stating that they were putting 20% down. (It's stated in the offer contract) We were supposed to close escrow this week and when I called escrow, they said that there was an error that the lender made and the buyers have to re-sign the loan docs and re-submit them. I was frustrated but was going with it. Then today my escrow officer just sent me 2 forms and said, please sign these 2 forms and fax them back to me by monday morning so you could get funded. One was an addendum to HUD-1 statement and one was a amendatory clause/real estate certification. When I looked this up, it said that this was for FHA buyers. The escrow officer didn't explain anything to me and it's the weekend.
There was an appraisal on the property and it appraised at the offer price. Is there anything I should be concerned about? Should I sign the papers?
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Old 05-11-2013, 05:02 AM
 
115 posts, read 368,755 times
Reputation: 133
Would you rather them just cancel the contract? Wait until something bad actually happens before freaking out
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Old 05-11-2013, 06:18 AM
 
Location: NJ
17,573 posts, read 46,126,539 times
Reputation: 16273
Do you know what you are being asked to sign and what the ramifications are for signing them?
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Old 05-11-2013, 01:17 PM
 
Location: Salem, OR
15,572 posts, read 40,409,288 times
Reputation: 17473
The Amendatory clause is a required document for FHA and VA loans. Sounds like your buyers switched loans on you.
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Old 05-11-2013, 01:18 PM
 
Location: Just south of Denver since 1989
11,825 posts, read 34,420,440 times
Reputation: 8970
Does the net to you change? If not then sign.
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