Foreclosure closing in Oklahoma

[Bludragonfly]

What is the name of your state (only U.S. law)? Oklahoma


My boyfriend and I found a home, made and offer that was accepted, started and finished the inspections with no problems. We were set to close December 12th, 2008 and were advised the title company was not ready. Later down the road we were told it was in fact not the Title company delaying us, but the Foreclosure Attorney for the bank that had made some mistakes on some paperwork.

We were told due to the holidays things would be a bit slow and were willing to be patient. We have signed two extension contracts as of today. We are now going into the month of February and my patience is starting to wear thin.

My questions are; How long can they make us wait? Is there anything we can do to make them pick up the pace with out loosing our home? And finally is there a way to back out with out loosing our money we have invested because of their lack of competence?

I would prefer to have the home, but I am fear full we will be waiting six months for it. Are there any time limits put in place by oklahoma statutes? Any fines that would make them pick up the pace a bit? Could this be the real estate agents fault?

This is our first foreclosure purchase and we really do love the home. I realize sometimes things take time, but it's the not knowing of how long that is starting to make me impatient and angry.

Thanks in advance.

[HomeGuru]

Originally Posted by Bludragonfly

What is the name of your state (only U.S. law)? Oklahoma


My boyfriend and I found a home, made and offer that was accepted, started and finished the inspections with no problems. We were set to close December 12th, 2008 and were advised the title company was not ready. Later down the road we were told it was in fact not the Title company delaying us, but the Foreclosure Attorney for the bank that had made some mistakes on some paperwork.

We were told due to the holidays things would be a bit slow and were willing to be patient. We have signed two extension contracts as of today. We are now going into the month of February and my patience is starting to wear thin.

My questions are; How long can they make us wait? Is there anything we can do to make them pick up the pace with out loosing our home? And finally is there a way to back out with out loosing our money we have invested because of their lack of competence?

I would prefer to have the home, but I am fear full we will be waiting six months for it. Are there any time limits put in place by oklahoma statutes? Any fines that would make them pick up the pace a bit? Could this be the real estate agents fault?

This is our first foreclosure purchase and we really do love the home. I realize sometimes things take time, but it's the not knowing of how long that is starting to make me impatient and angry.

Thanks in advance.

**A welcome to the world of buying a foreclosure property. There are no time limits and you are at the mercy of the lender and the courts.

[Bludragonfly]

That's what I thought.. Thank you for confirming it for me. I guess I will just have to have a little more patients and hope for the best. This is definitely a learning experience I will take note of.

[HomeGuru]

Originally Posted by Bludragonfly

That's what I thought.. Thank you for confirming it for me. I guess I will just have to have a little more patients and hope for the best. This is definitely a learning experience I will take note of.

**A: talk to the foreclosure attorney.

[Bludragonfly]

Okay I will do that. Thanks again.

[HomeGuru]

Originally Posted by Bludragonfly

Okay I will do that. Thanks again.

**A: good luck and be patient.