Dealing with Relocation Company

[Vu Truong]

Hey guys, can I get everyone’s opinion on my current situation? 

I made an offer on an investment property in Indianapolis, IN last week, and the seller (relocation company), counter offered back and I agreed to it. I even agreed to cut my inspection time down from 14 days to 7 days for them. 

It is now Tuesday and my lender told me he has not received the executive agreement from the seller yet. If they finished everything last week, I would’ve been able to lock up my rate at 4.85% ish with 25% down. My lender told me he even asked his manager to let me lock in the rate today before receiving the contract from the seller. My rate today would be 5%. 

A part of me is pissed and annoyed at how they’re doing business. They’re dragging their feet and I’m getting the short end here. You would think the seller would be motivated to sell. 

Are these red flags I should be aware of and just back out now? Or is this normal in real estate?