hawaiikine
New Member
I recently attended a real estate auction in D.C. and won a bid on a property.
After doing the preliminary paperwork at the site, the final paperwork would be fed ex'd. Copies were given to me before leaving the auction. The escrow company called me 2 weeks later asking about the paperwork that was fed-exed to me and was to be sent back. Unfortunately for me I thought it was more copies of the contract and left it on my table. After the phone call I opened the paperwork and faxed the signed copies to the mortgage company. The seller informed the escrow agent that i took too long to return the paperwork and wants to charge $100 a day for delaying the closing date.
After a little arguing the escrow agent sends me a letter that the deal has been cancelled due to the property being unliveable. now my deposit is being held because the seller still wants to charge me for taking too long to close. The irony is that the loan officer that was handling the case informed me that since i was gonig from a cash deal to a financed purchase there shoudn't be a problem extending the closing date. Is the seller in the right?
After doing the preliminary paperwork at the site, the final paperwork would be fed ex'd. Copies were given to me before leaving the auction. The escrow company called me 2 weeks later asking about the paperwork that was fed-exed to me and was to be sent back. Unfortunately for me I thought it was more copies of the contract and left it on my table. After the phone call I opened the paperwork and faxed the signed copies to the mortgage company. The seller informed the escrow agent that i took too long to return the paperwork and wants to charge $100 a day for delaying the closing date.
After a little arguing the escrow agent sends me a letter that the deal has been cancelled due to the property being unliveable. now my deposit is being held because the seller still wants to charge me for taking too long to close. The irony is that the loan officer that was handling the case informed me that since i was gonig from a cash deal to a financed purchase there shoudn't be a problem extending the closing date. Is the seller in the right?
