Escrow Closing

state: hawaii

we signed our closing papers with the escrow company for selling our rental property. the escrow officer has later informed us that the record date has not been determined, cause the lender has not approved the buyer's loan yet. we were shocked, and our broker did not disclose any of the information to us. what are our legal rights to our broker? isn't he supposed to disclose all these information to us before signing the documents? what is the meaning of the signing the closing papers without the approval of the buyer's loan?

[HomeGuru]

Have your broker explain the DROA contingencies and time frames to you.