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Updated about 13 years ago on . Most recent reply

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Dakota White
  • Cisne, IL
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First hud home legal questions for a delayed closing date?

Dakota White
  • Cisne, IL
Posted

I am buying a small house that is a first home for me and my wife. We started shopping a little late and finally singed all our paperwork for the agreement in September. We were told that usually closing for an all cash deal like ours could be quick such as little as 3 to 4 weeks. Well..... The title search took 8 days and we thought that meant we could set up closing shortly.
However, hud has now delayed 2 Months and is continuing to delay now. Closing is now set for the 31st. However because of not moving I have not been working (lost income) and driving 2 1/2 hours twice a day 3-4 days a week to college. I am living with family which takes it toll soon enough and now I losing literally thousands of dollars on gas and when I ask why this is... due to paper work not being signed at the hud office. However, (correct me if I'm wrong) they are not selling a lot of homes and on top of that shouldn't they have their paperwork ready on a house that has been on the market for 9 months now. Not only that but it has also cost my restate agent her bonus on the project as well that she was to receive for early closing. Is there any recourse i could get for this situation? and I feel the need to say that I don't particularly care about monetary reimbursement except for the fact I want them to PAY!

So is there a legal way to do this or are we back to slashing tires?? (jokingly serious)

Most Popular Reply

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J Scott
  • Investor
  • Sarasota, FL
17,196
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J Scott
  • Investor
  • Sarasota, FL
ModeratorReplied

In my experience, the best approach is to have the agent call the pre-closer directly. We've purchased 3 HUD properties, and on all three we had to call the pre-closer a couple days before the bonus period was up (we wanted our bonus), and on each occasion, it was only by calling the pre-closer several times per day that we were able to get the closings done on time.

All three times, the pre-closer had to get the listing agent and HUD scrambling to get things done in the last few hours, but it got done. Have your agent make himself a nuisance until it gets done...

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