evaluation of finance and purchase contract

[Matt A.]

I tentatively have an offer accepted (still waiting on a signed acceptance from the seller) both sides of a duplex thats used for student housing. I put a few conditions in the offer, one being that this MUST be a legal two unit (its titled on a single lot, but does have two addresses, and the township has issued two occupancy permits for years), and several other items. I also submitted the offer in my wife's LLC along with an approval letter in my name personally. Fall semester starts in a month and as these are 9 month leases, I dont want to miss ANY of the rent on these.

A few hours ago the lender called as the listing agent has called them 4 times this morning regarding the financing! In full disclosure Im pursuing a commercial note to title in the LLC from the start, and also a personal note that Id prefer to avoid from an ownership liability perspective. While the personal note is better terms (cashflow, interest, etc.) I was initially told that I wouldn't be able to transfer this to the LLC untill the loan was satisfied - now the lender tells me otherwise (different issue, but not a hangup for me).

So other than simply smacking the seller and sellers agent and telling them to wake up, how have you handled an issue of "where is the money coming from" i the past? I put a very aggressive closing date in the offer and they appear to be dragging their feet, causing delays for me to get appraisal, inspections, and du-diligence completed. I could simply write a check for this one as well, then refi cash-out but that would take me out of contention for another lower cost deal Im considering buying tomorrow (Ill need cash for that one).

Im open to suggestions... thanks!