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Wednesday, September 28, 2005

Further Explanation Of The Delay

I just spoke with my agent, who spoke with the buyer's agent and I now have a better understanding of the problem. The issue isn't just a misspelled name. Apparently, many years ago, the buyer changed his middle name. The docs showed his former middle name and he signed with his current middle name. Nobody caught it until the lender was doing the final review of the signed documents. Given this information, I can totally understand the lender wanting to get this straightened out.

Anyway, the buyer has taken the entire day off work and he's ready to sign the docs the moment they arrive. The lender's funds are already at the title office and they are just waiting the lender's authorization to release them to me. Unfortunately, that probably won't come until tomorrow, after the signed docs have been overnighted back. We're hopeful that the lender will accept a faxed version of the documents to release the funds today and they won't require us to wait until tomorrow when they receive the originals.

2 comments:

Anonymous said...

Hi Shaun,

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Anthony.

Real Estate Investment said...

Searching for real estate investment your blog was listed in the SE's results. Unfortunately I couldn't find the right information on real estate investments. Do you have some plans posting on this subject soon? Have a great day.

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