Although it has been decades since I've had a concurrent closing that did not close on schedule, all it takes is that one lone wolf to mess up everybody's lives. Even when you double check with all involved in the transaction to make sure nothing can go wrong, some wiggly thing can cause all havoc to break loose.
In our situation, it was a receipt for a wire. The transaction involved a gift letter for the buyer and the individual wiring the funds sent the wire from a different account than the account noted as proof of funds for the gift letter. Oops. The lender did not notice this until the day we were supposed to close, 3 days after the wire was sent.
Now, as a Sacramento listing agent, you know you have to relay this information to the seller. And you know how it will be received. You can read more in my personal blog today at this link: When You Have to Break Bad News in Sacramento Real Estate.