closing date changed

[robbob]

What is the name of your state? Massachusetts

I am supposed to close on the condo I own and the house I am buying on 8/29. Today my agent called to report a problem with the house. The agent is selling both my condo and the house I am buying. The house is an estate sale, the gentleman passed away and his kids are selling. This all must go through probate.
I found out that one of the kids had died two months ago and had no will. That is causing problems with the sale of this house because now HER estate must be advertised locally for 4 weeks to find any possible relatives. (I hope this makes sense). I took out the suitible housing clause from both sales because the agent said the owners of the house would not sell with the clauses there.(stupid, I know, be easy on me homegugu).

So anyway, looks like I could be without a place to live for at least a month. My questions are: Does the agent have any responsibility in this? The agent said it's not her problem. As the selling agent for the house should she have known about this problem prior to 23 days before the closing?
Can I lock my rate in indefinitely until this is straightened out?
The purchase and sale for the house is only good until 9/05, can that be extended? Is there any way I could legally postpone the sale of my condo?
One last thing(sorry) I wrote a check for the down payment of the house for $11,380. The agent already cashed it, therefore is collecting interest on it. Should they have cashed this check before the closing? Thanks for reading this long winded post.

 

[Souix]

What is the name of your state? Massachusetts

I am supposed to close on the condo I own and the house I am buying on 8/29. Today my agent called to report a problem with the house. The agent is selling both my condo and the house I am buying. The house is an estate sale, the gentleman passed away and his kids are selling. This all must go through probate.
I found out that one of the kids had died two months ago and had no will. That is causing problems with the sale of this house because now HER estate must be advertised locally for 4 weeks to find any possible relatives. (I hope this makes sense). I took out the suitible housing clause from both sales because the agent said the owners of the house would not sell with the clauses there.(stupid, I know, be easy on me homegugu).

So anyway, looks like I could be without a place to live for at least a month.


**Ask your agent to ask the estate if you can move in until the probate is settled***


My questions are: Does the agent have any responsibility in this? The agent said it's not her problem. As the selling agent for the house should she have known about this problem prior to 23 days before the closing?


***Is this the problem she called you about? She should have known about the heir dying and the ramifications along time ago. Actually, she should have pulled it off the market until the probate was settled***


Can I lock my rate in indefinitely until this is straightened out?


***Ask your lender***


The purchase and sale for the house is only good until 9/05, can that be extended? Is there any way I could legally postpone the sale of my condo?


***You can have your agent negotiate an extension on both your purchase and your sale. Do you have an underlying lien like a mortgage that needs to be paid off? If so, remember that an FHA loan's interest accrues monthly and conventional accrues per day.***


One last thing(sorry) I wrote a check for the down payment of the house for $11,380. The agent already cashed it, therefore is collecting interest on it. Should they have cashed this check before the closing? Thanks for reading this long winded post.

***Are you sure this is the down payment and not the earnest money? These funds should have been deposited into escrow or the agent's broker's trust account depending on how it is written in your contract. Normally they are not deposited into interest bearing accounts unless you request it.