I almost bought rental number 8

[Mark Ferguson]

We had closing originally set for Monday the 28th, but last Thursday title called and said the title was not clear yet and we needed to extend two weeks. I was fine with that and we sent them the amend on this REO. Come this Monday, the title company calls us and says they are ready to close when do we want to close. We were all surprised, especially since they said the lender already sent the wire. Apparently they had cleared title on Friday and no one bothered to tell us.

We set up closing for two, I met my lender before hand to sign docs since closing was 30 minutes away and she couldn't make it on short notice. I show up at the title company and the first thing they say is "well the seller hasn't approved the docs yet, but we can close in escrow." That sounded a little fishy, I sign docs and give them my money. Then later that day they say seller can't close in escrow and they have not approved the docs. We have to rescind the closing! They sent my money back and the lenders wire back after we all busted our butts to get it done in a couple of hours. They never mentioned the seller hadn't approved anything until I showed up at closing.

Here it is Wednesday and I still have not heard when closing will be. Then it turns out the listing agent is trying to get the gas lines air tested to get the heat turned on for our inspection, which was supposed to be 10 days ago. They never mentioned they were still trying to do this until they heard we tried to close since no one told them about closing either! I asked for everything to be turned on for my inspection, but never actually did an inspection. It was a good enough deal that I could deal with a few repairs.

Oh, the title companies excuse for all of this was I pushed them to close it too soon! They called me saying my lenders wire was already sent and we needed to close. My lender sent the wire because title called them and said we were closing today and told them send the wire before they even talked to me. My lender is pretty pissed too, but it should get closed eventually.