It's only Tuesday and I feel like the week should be over. I guess I wish it was.
We've all had them but I have never had one fall around a holiday. This makes me more sensitive to the scenario. I was going to make this a Members Only post but I think buyers and sellers can learn something too.
I went to Florida in mid-September to help sell my father-in-laws house in Pinecrest, FL; a suburb of Miami. I did everything right and got the house under contract with a backup in 12 days.
The house was suppose to close on Friday, November 16. As always with this buyer, she needed to provide more information to the lender to get a clear to close. In the meantime, the backup buyer is dealing with a situation from their buyer and information his lender needs. Bottom line, this is 2012 and the world of real estate is not the same. Forget buyers market or sellers market since they only apply if you are paying cash. For most transactions, it is called a lenders market and the mortgagor holds all the cards.
Supposedly the CTC came through around 5:30pm so there may be a closing tomorrow. I hope so. At least I can be thankful that, for my part, I brought the transaction to successful end.
A bit of humor to end this post:
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