Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago,

User Stats

6
Posts
0
Votes

Help with closing. Bank halted fund transfer

Stuart Blackwood
Posted

My wife and I downsizing from a 600k house which we both have our names on. To a 400k house which we are trying to buy in my wife’s name only (this will free up my larger income for rental propertly loans which we want to do next) we got a loan with a certain bank not aure if i can say the name here so . Lets just call them T bank. Well we got the cleared to close and my wife packs up takes a day off i move things around and she drives four hours to the new closing location. She is at the final steps of closing and T bank decides she cannot close because we havent closed on our house which we currently live in yet. We have already sold our house closing is august 6 and we are getting 50k additional to what we wanted from that house. The loan was never stated as a “contingent on closing loan” point is now our lawyer is holding then funds and wrote a stern email to the bank who basically responded that he is not the right person at the bank to call and told our lawyer not to contact him again and the bank will reach out. We stand to lose 15k if we walk away from the deal. Wtf you guys ever heard of a bank not doing their homework and what can we do? We need the kids to be in this new city for school time to get them registered and school fixed up.

Any ideas . Thanks bp

Loading replies...