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Updated almost 5 years ago,

User Stats

34
Posts
23
Votes
Ankush Ratwani
  • Rental Property Investor
  • Washington, DC (washington dc)
23
Votes |
34
Posts

Stuck in escrow because of a signature

Ankush Ratwani
  • Rental Property Investor
  • Washington, DC (washington dc)
Posted

Hey BP community,

I wanted to see how others would handle this situation. I am currently stuck in escrow as I have a 3/2 SFH under contract that was listed as an estate (i'm assuming passed down to the children as the owners have passed), and we are now currently 2 weeks passed the anticipated closing because one of the children will not sign the paperwork. My attorney and agent note that the sellers attorney and agent have been slow in responding/and giving minimal information on the situation. Our side of it notes that there is not much we can do at this point besides trying to keep reaching out. We could back away at any point and get my earnest money deposit back. I hate to lose this deal as its a good BRRRR that was a diamond in the rough, with the potential to get all of my money out of the deal and positive cash flow. I currently have a private lender (deed of trust) and a private loan that needs to be paid back so time is money. I also paid my contractor a deposit, which I can get hopefully get back if we back out.

How long would you guys wait for the signature before backing out? 

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