Seller's bank delaying closing way too long.
Started by ronwass
over 6 years ago
Posts: 17
Member since: Dec 2018
Discussion about
I know this forum is a little clunky, but there are precious few other places to ask. Was told that seller's bank would take an unusually long time to produce stock. Also they are changing lawyers. It's been 4 weeks since we received board approval and are twiddling our thumbs. Seems beyond unusual to me. No point in bugging my lawyer. There isn't anything she can do is there? Anyone else see this before?
My friend just closed on a condo, it took seller's bank 3.5 months
Have you hit your "on or about" date in the contract yet?
ali r.
Odds are they don't even have the stock certificate. Time to file a lost stock affidavit.
Yes, we are past the on or about date, into the window for adjournment period for no particular reason.
Seller pays for that lost stock affidavit yes? I was going to when I sold my late mother's place, but found it after one more search through her voluminous papers.
UPDATE: Have tentative closing date of 9/25. Will be six weeks after I (buyer) got all my approvals.
RonwAss, should it be at least 13 weeks after you got all approvals? 9/25 is more than 3 months from now, why only 6 weeks?
Whoops, typo, meant 6/25 so 6 weeks after my approvals were granted for (I guess) reasonable closing time. However, was totally on the seller's bank who I have now been told has a reputation for slowness. Can't tell you who, as I don't know. I'll report after closing when I find out.