Any deadlines after loan is approved? (appraisal, clause, negotiating, agent)

[curiosa]

We have been in escrow for the past 2 months now with 3 rate extensions to lock our 4.8 rate. The problem we are having is we do not have a closing date in sight and the seller's agent refuses to allow us to do termite inspection along with bringing flooring people to do measurements and estimates along with negotiating for help with closing costs until we find out if the loan goes through. I've asked about this before and the owner does have the right to not allow people on there property for whatever reason since they are the owners.

My questions are basically does this seem fair? If the loan is approved, is the rate then finally locked or are we having to rush to get our estimates and inspections being that the seller won't allow this until after the loan is approved. We are afraid that once the loan is approved everything will be rushed. Are there any deadlines to meet once the loan is actually approved?

[2bindenver]

What does your contract say? We have no idea where you are, where this property is and what's normal.

Sounds to me like you are not represented and are being taken advantage of.

[evilnewbie]

It does seem a little odd that they won't let you conduct inspections before your loan is approved... The only thing the bank wanted was an appraisal, a closing attorney, and a home inspection. I added termite inspection as well but the seller wasn't really concerned, they were only concerned that I would buy the home cause they were afraid I would walk away... but every seller is different... I would carefully look in your contract because I remember in my contract there is a "due diligence" clause that when the seller "accepted" my offer, I was allowed inspections, appraisals, and any necessary things I need done for two weeks after the seller accepted my offer... I would think this is normal in any contract... maybe present them the contract and tell them you have a right to do these things? Good luck!

[Brandon Hoffman]

What does your contract say regarding inspections? In ours, the seller must allow the buyer access within a certain time frame for inspections. What problems are you having with the loan approval process? Where the heck is your representation on this?