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Old 01-23-2004, 09:36 PM
bass935sour915
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Buyer with expired green card


What is the name of your state? California

On 11/11/2003 I accepted an offer to sell my home.

Escrow was scheduled to close on 12/11/2003. Of course, it didn't close on that day and I really didn't expect it to.

I was informed by my real estate agent that it would close on either 12/22 or 12/24/2003.

On 12/26/2003 my real estate agent called to inform me that the buyer has an expired green card per the mortgage "discount loan brokerage." The buyer still wanted the property and was going to get the green card renewed immediately.

Since then we've agreed to extend escrow, made amendments to escrow, given notices to perform; and to date, have yet to close escrow.

The buyer’s mortgage lender nor his agent has been very cooperative (repeatedly not returning calls from my agent). At one point the buyer’s real estate agent couldn't locate his client and hadn't heard from him. The mortgage lender states that the loan documents are going to escrow and they don't.

At this point, I'm ready to place the property back on the market.
I'm so frustrated with the actions of the buyer, his real estate agent and mortgage lender. What action can I take, if any against them?
  #2  
Old 01-25-2004, 05:20 PM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781

Re: Buyer with expired green card


Quote:
Originally posted by bass935sour915
What is the name of your state? California

On 11/11/2003 I accepted an offer to sell my home.

Escrow was scheduled to close on 12/11/2003. Of course, it didn't close on that day and I really didn't expect it to.

I was informed by my real estate agent that it would close on either 12/22 or 12/24/2003.

On 12/26/2003 my real estate agent called to inform me that the buyer has an expired green card per the mortgage "discount loan brokerage." The buyer still wanted the property and was going to get the green card renewed immediately.

Since then we've agreed to extend escrow, made amendments to escrow, given notices to perform; and to date, have yet to close escrow.

The buyer’s mortgage lender nor his agent has been very cooperative (repeatedly not returning calls from my agent). At one point the buyer’s real estate agent couldn't locate his client and hadn't heard from him. The mortgage lender states that the loan documents are going to escrow and they don't.

At this point, I'm ready to place the property back on the market.
I'm so frustrated with the actions of the buyer, his real estate agent and mortgage lender. What action can I take, if any against them?
**A: read your contract and invoke the termination clause for breach in not closing on time.
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