It’s a long story, but I will try to shorten it.
Our house listed in March and sold in 2 days. First buyers were conventional, but had two realtors and had another offer in on another house that came through, so they backed out of ours. So we went to the next buyers who were FHA.
During the attorney review these buyers lawyer tried to take our time if of the essence clause(which is apparently common), we fought it and it stayed in.
We made it though inspection, appraisal came in at asking price, but they said they would pay 5,000 over that. My realtor was annoyed and tried to fight it. I didn’t care, I was happy with asking price. Anyway, we got past that hurdle. We packed up some of our house moved it into storage and got a moving company(I know I was already told this was too early), but we are closing on the house we are buying the same day that we sell ours. Anyway, a day and a half before closing we find out they can not close on the closing date. Their first excuse was that they stopped the loan on the day we were going back and forth on the appraisal, the back and forth lasted an afternoon. So it never even went to underwriting. Then I come to find out that on the 24th they received an email stating they were moved to underwriting and they were missing a document?
The day we found out they could not close the Lender tells my realtor, they could be CTC that Friday. So we cancel our movers and buy a uhaul. We fill it and hold the uhaul. For 10 days we hold the uhaul, because they told us we could close any day. Eventually the lender stops communicating with us and so does their realtor.
So I retain a lawyer and he sends the buyers lawyer a letter stating we have cancelled the contract with a drop dead clause with a date of today. We still have not heard a peep back from them.
Anyway, in the interim we have found new buyers with a VA loan who will pay the asking price and can close august 10th. They agreed to use the past inspection so all we have to do is appraise.
But now I’m nervous, can they really close in that time frame? Our sellers are being patient and waiting on us. Their lender is local and in communications with our realtor. The other lender was not. Also, once again my realtor tells me she can not be the there for the appraisal and I need to be there. She told me to give the appraiser the old appraisal and the list of updates we made. Should I do this? It was nerve wracking doing the last appraisal.
Anyway long pointless story but my issues with my last buyers have me fearful with these buyers. So my main question is can they close that quick? And should I do what my realtor said with the appraiser? TIA