What is my recourse as a buyer?
Hi Jenny, You are not alone in your frustration, this is very common. I prepare my clients for this experience. In the last transaction I did with a bank owned home our documents were expired when we finally closed. We signed our documents on the 24th of the month with a contract lose date of the 31st but, didn’t close till the 11th of the following month. Because we were waiting for the exact same documents you are now. I called the title company everyday placing pressure on them to put pressure on the bank. Your financing bank places a date of expiration on your documents. In your case you have “March documents” and your first payment will start May 1st. Most banks really only want to honor your documents for 7 days into the following month of the docs. They don’t want you to move in and have your first payment due in just 2 weeks. But, this is exactly what can happen if this drags on another week. My lender was also calling the funding bank begging them to allow this transaction to
