We were supposed to close escrow last week for a pending sale in Elk Grove, but we don't even loan docs drawn yet. I suspect the problem is dual-fold. First, the lender did not fully advise the buyers about the damage they could cause themselves by touching their credit reports. If the lender did advise, the buyers did not understand.
The buyer's agent was out of town for a while. I myself had to sit on hold for 15 minutes just to get through on the phone to the buyer's lender. The story I received from the lender differed from the story the buyer's agent had received earlier that day.
The thing is you never know what an unsupervised homebuyer will do. You can read more in my personal blog today at this link: Messing With Credit Reports When Homebuying Can Create Chaos.
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