Seller delayed closing

[Sam Webber]

my wife and I are trying to purchase a forclosed home. It was supposed to close on June 1st 2017 its now 5 days after the original closing date.  The seller and /or bank that owns the foreclosure is the one holding us up. They can't give us any answers on when it will actually close.  Anyhow it's been a gig inconvenience the house needs a lot of work and nothing is falling into place. I know delayed closings happen but the vast majority of the time it's the buyers fault from my understanding.  I have told my realtor I want compensation for the inconvenience and or delay, or I'm pulling out.  I looked through my papers and the penalties will be minimal.  What are my chance at of getting the bank that owns the foreclosure to pay my closing cost or compensate me for there's screw up??

[Christopher Phillips]

@Sam Webber

Pretty much none.

Everything is done by the numbers at banks. They have no concern about these things.

There's more paperwork with a foreclosure than a regular purchase. Delays are to be expected. You can asked for an extension to keep the contract in play. Otherwise, if you walk away, it's not a big deal to the bank.