Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 13 years ago,

User Stats

446
Posts
171
Votes
Glenn Espinosa
  • Rehabber
  • Alexandria, VA
171
Votes |
446
Posts

Delayed closing, losing money by day!?

Glenn Espinosa
  • Rehabber
  • Alexandria, VA
Posted

I am buying a quadruplex that takes in $2400 in rent a month. Original closing was set for the 12th but do to appraisal/inspection delays it has been pushed back to the 20th, maybe 21st.

The closing was pushed back because on the day of the appraisal/inspection (a Friday), the seller's plumber had an emergency and had to cancel the AM appt to put in a new water heater. The seller was slow in getting another plumber out there and needless to say the 10 AM appraisal/inspection was pushed back until 5:30PM... not enough time for the appraiser to get the paperwork in and thus the underwriters didn't get moving until the next monday...

Further delays are due to I don't know what, I am starting to get pissed at my loan officer for not answering my questions as thoroughly as before.

My question is that since I will be credited a prorated rent for the month of June, am I literally losing $80/day ($2400/30days) by having the closing date pushed back? From my calculations, this amounts to as much as $720.

If so, any recourse in getting this credited back to me?

Loading replies...