Help, please!

[lnghng]

What is the name of your state? New York

We signed a contract to buy a condo in New York city. The closing date in contract is Jan 25, 2005. However, Seller used many excuses to delay, and even didn’t tell us after the board issued the certificate -Waive of First Refusal. After everything is ready, Seller’s lawyer just doesn’t reply our lawyer’s call and fax for assigning a date to close. Our lawyer doesn't know there is any law can help us to against that situation. I posted it in buying and selling forum, also didn't receive any response.

Tomorrow is the last date for our loan rate lock (30 year fixed, 2 months lock), after that day the rate will be the higher of the market rate or the lock rate. The other way is to pay money to extend the rate. We have to make decision. However, we even don't know how long Seller will play this game and how much extra money we need to add. We feel a lot tension, I even can't sleep well these days.

I'm not sure if we can reapply the loan with the same lender or maybe go to other lender. Since the 30 year fixed rate 0.25% below the rate two month ago, if we can allow doing so, even paying the current lender some fee, it will be still better than paying the money to extend the loan rate lock. It might also give us time to wait for the day that Seller will end the game.

Any suggestion? Thanks.