4 days to closing- what would you do if papers don't come?

[CSLucas]

Hey everyone - we are supposed to be closing on our second contract in 4 days (April 9 per the contract). Our $$ and paperwork has been with the title company for almost a full month now, and we still don't have closing docs from the sellers. It wasn't a good deal so I'm not particularly attached to the contract and we are trying to use these points for an August trip. If we don't close on this contract, we will pick up the points direct instead of playing the waiting game again.
Last time I bothered the title company about it was at the beginning of last week and they said the seller's documents were in the mail, but that has been said before. How long would y'all wait past the April 9 date before just asking for the money back and moving on?

 

[Sandisw]

Personally I would contact tomorrow and tell them that you will be rescinding if not closed on time. But that is me.

 

[MisKaren1]

I don’t have anything to add...just have a similar situation. Closing date was 3/26. I’m willing to walk, just not sure when/how!

 

[Marionnette]

Hey everyone - we are supposed to be closing on our second contract in 4 days (April 9 per the contract). Our $$ and paperwork has been with the title company for almost a full month now, and we still don't have closing docs from the sellers. It wasn't a good deal so I'm not particularly attached to the contract and we are trying to use these points for an August trip. If we don't close on this contract, we will pick up the points direct instead of playing the waiting game again.
Last time I bothered the title company about it was at the beginning of last week and they said the seller's documents were in the mail, but that has been said before. How long would y'all wait past the April 9 date before just asking for the money back and moving on?

April 10. They've had your money long enough and you aren't particularly attached to this contract. However, I would reach out now to the agency that listed the contract to inform them of my intentions. They could put pressure on the seller to get their act together.

 

[hlhlaw07]

I would tell them ASAP. I had this experience before. Sellers never returned the docs. I waited a really long time. Months past closing. When I finally had enough and told them I wanted my money back they made me wait another 30 days while they provided notice to the seller that they were being considered in default and I was cancelling the contract. I don’t know if your contract has that same provision, but in the event it does, tell them immediately. After my experience, I never send money anymore until the title company tells me they have received the seller’s docs.

 

[CSLucas]

Personally I would contact tomorrow and tell them that you will be rescinding if not closed on time. But that is me.

I think that's what I'm going to do. I didn't want to be unreasonable since it was an international seller, but they have had a full month to get their documents in or else explain why they needed more time.

 

[CSLucas]

I don’t have anything to add...just have a similar situation. Closing date was 3/26. I’m willing to walk, just not sure when/how!

this is what I was afraid of happening! I wouldn't mind a day or two late (I've waited this long so what's a few more days!) but I'm worried about it dragging on for weeks and then ending up having to use a cash reservation for my trip

 

[CSLucas]

I would tell them ASAP. I had this experience before. Sellers never returned the docs. I waited a really long time. Months past closing. When I finally had enough and told them I wanted my money back they made me wait another 30 days while they provided notice to the seller that they were being considered in default and I was cancelling the contract. I don’t know if your contract has that same provision, but in the event it does, tell them immediately. After my experience, I never send money anymore until the title company tells me they have received the seller’s docs.

I don't see anything in my contract that would give them the right to hold it - there is a provision for an extension based on the date the estoppel was received, but we are well past that. I'll send them an email in the morning and let them know that I intend to walk if it isn't closed by Friday. I don't want to be a jerk, but it is a contract and honestly at this point I'm just tired of waiting

 

[tgarre06]

After reading this I’m really glad that I told the title company that I’m not wiring the funds until the seller’s sign all the documents. I’m sorry you’re in this situation, that’s no fun at all. ☹

 

[MICKIMINI]

I've had to push - most recently two weeks ago. Though my "seller" is overseas and the US Embassy was closed, after we threatened to pull out by some miracle they were able to get the docs notarized and to the US in days...

We send funds overnight as soon as we get confirmation the seller's docs are with the closing agent. As the buyer, we use the same closing agent and get no grief since we always uphold our end of the bargain. I just got word today, she has our documents and $$ and we close in three days.

Be the squeaky wheel! Good luck!