More details to this question:
After 8 months and several extentions trying to resolve a permit issue the sellers bank refused to issue another extention just as the permit issue was resolved and had me resubmit my offer now they are saying that they want to assign a new negotiator and it will take at least an additional 60 days. My offer was approved by seller and the sellers bank and my loan was in underwriting waiting for the permit to be issued and a foundation cert to be issued. My realtor has suggested that the bank is tring to get rid of me to relist the property in the better market. I want this house what can I do?
1 ANSWER
R. Christopher Reade
Your question is confusing. Seller's lender approved the transaction; however the time to close escrow expired. If you submitted a new offer, then you have consented to going back to Square One and starting the approval process all over again. At this point in time, you most likely will have to go back through the approval process, which may not be granted a second time for the same price and terms.
Answered on Mar 23rd, 2013 at 2:03 PM