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Updated over 4 years ago, 02/24/2020

User Stats

257
Posts
18
Votes
Mark Beekman
  • Investor
  • Phoenixville, PA
18
Votes |
257
Posts

Need advice on closing delays for Auction.com property

Mark Beekman
  • Investor
  • Phoenixville, PA
Posted

I won a SFH auction on Auction.com on 9/27. Offer was accepted by the bank, purchase agreement was signed by both parties, earnest money was paid, etc, etc.

The closing was originally scheduled for 10/27, but they had me sign an Extension of Closing for a closing date no later than 10/31. 10/31 came and went and I just now received an email from Auction.com telling me to sign another Extension of Closing with a closing date of on-or-before 11/14. 

I emailed the Title company on 10/30 and received this response:

We are still currently still pending the updated title that reflects the fcl deed being recorded. ETA of the updated title is next week [this current week]. Once we receive that, the new deed will be sent to seller for execution.

A two and a half week delay isn't all that bad in and of itself, but does their excuse sound legitimate? I'd hate to wait until the 14th just to have them request another extension.

This is my first Auction.com deal, so I may be making mountains out of molehills.

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