Why Is This Seller Stalling??!?

[Kesha Myrick]

Hello all. I've gone through so much turmoil in life . . .including beating cancer 3X . . .so to come to this point as I finally have been granted a 3rd chance at life is frustrating to say the least. My offer was accepted on my first investment property back in January. The property is less than 5 minutes from our downtown area where properties are now selling in excess of 1M.  I signed the contract and then my attorney discovered that there was a lien on the property that was 9.2 years old. In my state, liens can drop off after 10 years. . . so I waited to see if it would do just that. It did. Due diligence period has come and gone. Inspection done. General contractor visits, done. I was approved for traditional renovation financing through a bank - - but obtained approval for a hard money loan. Appraisal done. I've been ready to go to closing for about 2 weeks now . . .but the buyer will not commit to a closing date. She claims that she has no where to go. Again, contract was signed in January. Although possession of property is supposed to happen at closing - I offered an extra 30 days for her to get her life together . . .however, she hasn't responded to that offer.  Her unwillingness to provide me with a closing date in addition to her excuse of not having anywhere to go is not making any sense. Any suggestions of what to do? My hard money lender is pressuring me to provide him with a closing date and although I have spelled out the situation - - I'm so afraid that he may walk away because he may not think that I'm serious about this deal. I noticed while at the appraisal, she doesn't seem like she is preparing to move. There isn't a single moving box in sight. 

I'm curious as to what you all think. 

Thanks in advance for your feedback. 

[Erik W.]

@Kesha Myrick, another option would be to file a lis pendens (litigation pending) action against the owner & property: that would put notice on file with the county Recorder of Deeds office that there is legal action pending against the property.  It should tie it up so no one else can buy it, unless they are doing so with cash only and don't care about getting title insurance.  No lender with an ounce of common sense will loan money on a property with pending litigation.  Aka playing "hard ball", if the Seller is trying to stonewall you and then back out and sell to someone else at a higher price, you have effectively made the property unsalable until your case is resolved or dismissed, but you're not spending huge $$$ to actually litigate it.  The cost isn't usually much to file, but be sure to consult a local, experienced real estate attorney as far as the requirements and any risks.  Clouding the title sounds like your best option at this point, and that's exactly what lis pendens is for.