matthewmills
Junior Member
California
I am in contract to buy a home. I am representing myself, and the other agent gave me 10 days for inspection and 14 days for loan contingency. I told her I wanted 14/17 respectively and she said that she would give an extension no problem. She extended the inspection contingency but never sent me a signed copy by the Seller. I will need an extension to Friday for loan and she seems reluctant to do it. She said that she will cancel escrow and go to market if my loan contingency goes until Monday. I asked her if she spoke to the Sellers, she said she’d make that decision herself. Now she is telling me to remove my loan contingency without even having a commitment letter. She just sent me a two day notice to perform supposedly signed by her Sellers but I am not missing any deadlines until tomorrow. Here are my questions:
1. What happens if I don’t sign the cancellation instructions if they are given to me after the notice to perform as I believe I am proceeding in good faith trying to get my loan?
2. She’s asking for signed disclosures at the same time as the notice to perform, what’s the reason for this?
3. If I remove my loan contingency, is my deposit non refundable under the standard CAR forms?
4. Is there any issue with me contacting the Sellers since it is obvious she is not communicating everything to them?
5. She is recommending me to her loan broker (stating in an email she has no faith in my loan broker) who she says can approve, commit, and fund the loan in 16 days, which I feel can’t be accurate. Is there some issues with that that I am missing?
6. Is any of this actionable in a DRE complaint?
Any advice is greatly appreciated.
I am in contract to buy a home. I am representing myself, and the other agent gave me 10 days for inspection and 14 days for loan contingency. I told her I wanted 14/17 respectively and she said that she would give an extension no problem. She extended the inspection contingency but never sent me a signed copy by the Seller. I will need an extension to Friday for loan and she seems reluctant to do it. She said that she will cancel escrow and go to market if my loan contingency goes until Monday. I asked her if she spoke to the Sellers, she said she’d make that decision herself. Now she is telling me to remove my loan contingency without even having a commitment letter. She just sent me a two day notice to perform supposedly signed by her Sellers but I am not missing any deadlines until tomorrow. Here are my questions:
1. What happens if I don’t sign the cancellation instructions if they are given to me after the notice to perform as I believe I am proceeding in good faith trying to get my loan?
2. She’s asking for signed disclosures at the same time as the notice to perform, what’s the reason for this?
3. If I remove my loan contingency, is my deposit non refundable under the standard CAR forms?
4. Is there any issue with me contacting the Sellers since it is obvious she is not communicating everything to them?
5. She is recommending me to her loan broker (stating in an email she has no faith in my loan broker) who she says can approve, commit, and fund the loan in 16 days, which I feel can’t be accurate. Is there some issues with that that I am missing?
6. Is any of this actionable in a DRE complaint?
Any advice is greatly appreciated.