Waiting on Seller?

[GoofyMitchell]

Disney waived ROFR on Our resale purchase of Boardwalk almost two weeks ago. The day it passed the title company had us fill out an Open Escrow letter. We filled it out and sent it back that day. I emailed the title company today to ask when we should expect closing documents and they responded that they are still waiting for the seller to send in their Open Escrow letter. Once they receive it then they will send out closing documents. Should I be worried? Why wouldn't the seller have turned theirs in by now? Don't they want my money?

 

[BillPA]

Contact the broker you used and see what's up. They should know what's going on.

 

[supersnoop]

Why wouldn't the seller have turned theirs in by now? Don't they want my money?

Sellers are not in as big a hurry as you are. It's pretty normal for them to take longer. This is why I advise against spending the money on overnight delivery services.

 

[gharter]

It really varies. Our first contract took 3 weeks from when we sent back the closing documents to being recorded. Our last contract was under a week. Could be many reasons the buyer isn't getting back quickly. I don't think I would be panicking yet.
Good luck!

 

[Minniesgal]

Seller could be on vacation, on a business trip, sick, have family issues or just plain preoccupied with something else.

When you list your points for sale you have no idea when they will sell and when you will be required to take action. In the meantime life goes on.

I travel almost constantly for work for example so much of my mail is received 1-2 weeks after ti was sent not immediately.

 

[LisaS]

I agree with Bill PA. Contact the broker. I've read too many posts about the buyer waiting and waiting for the sellers to send in some paperwork only to be told (after finally calling the broker and asking for an update) that this was a divorce situation and one of the parties is refusing to sign, or the sellers were from another country and the whole process was going to take much longer than usual, or that the seller keeps telling the broker "the paperwork will be in the mail by tomorrow" but then never gets around to it. Call the broker and ask him/her what is holding things up.