Okay, you have an accepted contract on your home. The inspections have all been resolved, the due diligence period has passed, you have prepared for your move. You have a closing scheduled on your home at your new destination right after your closing here! You have scheduled sitters, purchased crates for the dog and cat to travel with you, called the movers, packed up all your personal belongings, you have called the utility companies here and at your new location. You have scheduled the last day of school for your children. You have asked your sister to come and help you out on moving week and yes, she has scheduled time off work to help out. You have everything ready to go. You know your closing is scheduled for date certain, two days from now. Suddenly you wonder? What time? So you call your agent, she says she has not heard from the closing attorney, she will call you right back. She calls you back and says, I am trying to find out what is going on, they don't have a copy of our contract.
Do you get a sinking feeling? Well, yes! Then you hear from your agent who is not the least bit happy that you are not going to close two days from now. Why? Because there will be a unilaterial extension filed by the Buyer. HUH???? Yes, there will be a unilateral meaning you don't have a say! And this is two days before closing. It gets worse, one day before closing and you still do not have the unilateral extension, nor do you have a date to close! Horror Story, but true story! Did you know this could happen? Yes, in Georgia it can. There is a paragraph in the contract you signed which says it can!
In these days of economic uncertainity, delays seem the order of the day. What can you do in situations such as the above? Your choices are limited. You need an agent who is aware of what can happen and you need a lender who is reliable. You cannot control the buyer, but your agent can help you understand the contract. Experience and Service are not expensive, they are priceless. Contact me when you are ready to buy or sell in Helen, Ga and surrounding areas. For your Mountain home, cabin, vacation or retirement home, call Flynn the Ga Real Estate Lady. For more tips on buying and selling, visit www.FlynnTaylor.com.