Seller Delays on Auction.com REO Deal

[Adam Bird]

I successfully won a bid on auction.com and signed a pruchase agreement in early October 2018 with closing expected Oct 30.

Seller was required by municipality to repair storm water drainage before the sale was allowed to go through. Contract or bids were submitted to HUD back in mid December and I believe it was approved.

Now almost 4 months into this and 4 contract extensions later, auction.com cannot give me any info about status and refuses to give me a realistic timeframe yet they are asking for a 5th extension.

I have $2500 earnest money tied up in this so far and it is still a good deal but cannot wait indefinitely.

Any thoughts on what to do next? Would you jump ship in this scenario or ride it out?