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We have a contract, completed all required repairs, appraisel, etc. & were scheduled to close late this week, however we found out our buyers have to sell their house as a condition per the underwriter. They do have a contract and were suppose to close this week as well. We just found out they pushed the closing of our house to next week with no explanation at all. Our agent is not getting feedback from their agent other than the papers were delaying getting to their title company on their existing house. We have talked to our buyers several times when they visited our house, would it be okay to send then an email or call to get more info on why they had to move the closing date, or is this not ethical? Not knowing WHY they pushed the closing date is stressful, not to mention moving the closing date as well.
You need to look at your contract. In Oregon that would be misrepresentation as the contract clearly states that the buyer is not misrepresenting their financial status. So if a buyer makes an offer not contingent on the close of a home, which is MATERIAL to the contract, that is fraudulent. At least how our contracts are written.
You agent needs to calling the listing agent for the buyers home and ask them the status of the loan. You want to know if "docs are ready to send to title." If the docs are not ready, then it is possible the buyers buyer has not been underwritten yet.
You need to nag your agent to get information for you. If they can't get it, call their principal broker and ask them for assistance.
Agree with Silverfall, you should have known from the contract signing that it was contigent on them selling their house. Look at your contract.
Do communications through your agent. I wouldn't contact the buyers directly....
To answer your question, there is nothing unethical about you calling the buyer that you are in contract with. Let your agent know what transpired.
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