When you are buying or selling a Spring Texas house, your life evolves around the closing date. For weeks you have been coordinating schedules. You set a date for the movers. You lined up a babysitter for the kids. You scheduled time off from work. You called the utility companies to establish service. You are ready to go. You are just waiting on the closing date to arrive.
Then BOOM out of nowhere and just three days before the closing date, your lender says “your loan has not met all of the final loan conditions and we can’t give your loan the clear to close until it does”. Translation – we will not be closing your loan on time. But why is your loan not closing on time? You gave the lender every document he requested as soon as you possibly could. And last week your lender told you everything was on schedule.
As a Spring Texas Realtor, I have heard more excuses from lenders than the kid who forgot his homework. Heck, some of the kid’s excuses are more believable than the ones I receive from the lenders. Lenders will tell you they will do their best to meet your closing date but they will NOT guarantee it.
So what happens, when due to no fault of your own, you can’t meet the closing date? In Spring Texas, the sellers can either agree to extend the real estate contract’s closing date, sue for specific performance, or terminate the contract and receive your earnest money as liquidated damages. The best option for you would be for the sellers to extend the closing date but the sellers do NOT have to extend the closing date. They may be fed up with your lender’s lame excuses and decide to take your earnest money and put their house back on the Spring Texas real estate market.
How many excuses does a lender have for not closing on time? An infinite number – a quantity without end.
My family and I have moved many times and have had several realtors in various locations. Jill Wente is hands... read moreMy family and I have moved many times and have had several realtors in various locations. Jill Wente is hands down the best real estate agent in Spring Texas and certainly the best we have ever used. She has represented us as a buyer and seller and then most recently a buyer again the Spring TX area. She helped us figure out what would fit our needs today and what our needs would be 5 and 10 years from now. She was always thinking about future resale value and guided us in the process of making a wise financial decision. She negotiated hard for us and treated our money as if it was her money. She was always available and worked around our schedule. If you are looking for someone with unparalleled knowledge of the Spring TX area look no further, she’s the one you want on your side. I LOVE our new home but if I ever move again, Jill Wente will be who I call. read less