sellers agent saying that they are going to take the deposit if we do not close in ti

Tips and Deals Forums Buying Your Home Buying a Home in Los Angeles sellers agent saying that they are going to take the deposit if we do not close in ti

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    Anonymous

    Hey guys… this is our first time buying a house and we are sooo stressed. *We lifted all our contingencies after the 17 day mark and got through all the inspections. * Our escrow is supposed to close on july 6th, which is 3 days from now. *We still are waiting for the bank to sign off on a condo certification… and that is all we need according to our lender. We were worried that we would not make escrow as everything with the banks take such a long time.. but our real estate agent reassured us that we can always close a couple of days after July 6 and it’s pretty common in california to close a couple of days after escrow. *(We opened escrow May 1).*
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    However, given that Wed is a holiday, we may not meet the July 6 deadline as we still haven’t heard from the bank. *Even if we hear from them tomorrow… it may be too late to get all the paperwork in order to meet July 6 deadline because of the holiday. *The loan officer is trying desperately to get that cond certification signed off.. he states we are 100% approved and it’s just a formality. *When we did the final walk through last night….. the sellers agent implied that if we do not close on time.. the sellers will take our deposit and put the house on the market again. *She stated that her sellers are buying a house in colorado – they don’t work with escrow companies there and they only have real estate lawyers. *If they don’t meet July 6 deadline.. then they will lose their house and their deposit and therefore… they will take our deposit ($22000) and place the house back on the market. *I am freaking out!!!!!!!!!!! I can’t believe that we are hearing this last night… we Do NOT want to lose $22,000. *
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    any recommendations? *suggestions? Do you think guys think the seller’s agent is bluffing and just being pushy so we can push the loan officer? *I can’t believe we might lose our deposit for closing a couple days late… just so so stressed at this whole situation. *
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