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Updated 6 months ago,
Under contract and facing a stuation, Need advices
Hi All,
I got under contract almost 2 months ago, especially the 11 of June. The closing date was supposed to be the 12 of July. But so far I have not been able to close for many reasons.
After the appraisal, the house got undervalued, so the seller had to bring the price down and agree with that. I do my best to provide everything as soon as possible but this is not the case for the seller. One recent update is that he has traveling for almost 2 weeks and ignoring anything related to the transaction. We have been waiting for him to sign the addendum of the price update and provide some documents for the title all this time.
Normally I could just wait, but during my approval for the offer, I had to lock my rates at 6.25% FHA and the rate lock period was over around the 16 of July. Now every week that passes, I'm paying extra to keep my rate in. I'm almost at 3K+ for that and now the agent is informing me that the seller will be ready with all the requirements for closing on the 14 of August. So that is not even the closing date.
I start to think of moving away from this deal but don't know if that's even possible. What should I do?
On top of that, I have been pushing some travel all this time, and I can no longer do it for personal reasons, so on the 14 of August, I'm not even in the country.
Is this something normal and I'm just unlucky? Is it normal for me to complain or this Is a 'me' problem? can I request seller credit for that?
Please need help. This is my first purchase.