i sold my house?

Question

and the contract says the closing will take place on a certain date, it is now over two weeks past that date, my lawyer says the banks attorneys are backlogged, is this normal?

Answer 1

Unfortunately, the closing date as written in a contract can be held hostage to "backlogged" attorneys. And, yes, this happens a lot. The corporate downsizing that has happened over recent years has meant that fewer people are doing the work, and being late is all too normal. I have found that it does help to call on a regular basis; this can speed up the process.

Answer 2

Hmmm this is strange. It is usually the title company that would settle at the closing. The courts don't have any direct imput to the process. The Title company records the data at the courthouse and the banks do not hold the money at the bank. They are well versed in how to distribute and and disperse things like escroes and deposits. I'd speak to my realtor if I were you. Lawyers sometimes are the gum in the works. The more probles you have the more money they make right?

Good LUCK!

Answer 3

Ask the Realtor who is representing you what your options are. In Texas, a delay that long on the part of the buyer, or any of the buyer's agents or lender would result in the seller being able to keep the buyer's earnest money and put the house back on the market.

Answer 4

the buyer probally has a problem with the loan. the loan company might not want to fund it. you should have put a clause in the escrow intructions stating that if the home is still in escrow past the escrow closing date the buyer has to pay you a fee its usually a daily charge the highest that i have seen them go was about 100 dollars per day

Answer 5

A few days to a week is not uncommon but 2 weeks????

Answer 6

No, it is utter nonsense, especially right now when sales are down about 30%.

Answer 7

yep

Answer 8

it is normal