We are still waiting for a closing date for the sale of Bargain House! It seems like this has taken forever. The original closing date was April 6, which was one month after we signed the contract (March 8), which was 16 days after the listing went up.
WHY is this sale still on hold? Hick communicates regularly with our Realtor Guy. Who only knows what The Buyer's realtor tells him.
At the risk of being a pest, Hick sent a text on Tuesday night, asking Realtor Guy if the house is sold or not. Should we open up the listing? In case this sale doesn't go through?
Realtor Guy replied on Wednesday morning that he was expecting a reply from The Buyer's Realtor later that day. But that if the deal continues to stall with no explanation, we might want to back out of it.
Here's the latest, from Wednesday (April 15) afternoon. Realtor Guy sent Hick a copy/paste of the message he got from The Buyer's Realtor. It went a little something like this:
"The Buyer still wants the house. His financial institution has approved his loan for the house. We are waiting on HUD to approve the contract."
Well. That certainly clears it up, doesn't it? What in the Not-Heaven does that mean??? Will HUD have to send an inspector or an appraiser? Or just look over the contract? It's a federal entity, you know. So nobody can guess how long this process might take.
Meanwhile, it seems like we've sold Bargain House. Right?
Grrrrr, how frustrating!!
ReplyDeleteYes! Now I've paid the gas and electric bills, and the next three months of insurance. It would have been so much easier to have the sale completed on April 6. If these are held out of our proceeds at the eventual closing, due to inquiries before the payments posted, it will be a pain getting credit for them.
DeleteI have no idea who or what HUD is, so it doesn't clear up anything for me. I hope it all gets finalised soon.
ReplyDeleteIt's a federal agency, the Dept of Housing and Urban Development. They do various things, but I think it must be a federal-backed loan The Buyer is getting for a first time home buyer.
DeleteThank you.
Delete