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#329633 - 03/04/10 02:58 PM Sellers Cancelling on client the day docs go out
916Realtor Member Registered: 04/10/06 Posts: 60 Loc: Sacramento, CA	So we got an accepted offer on a FNMA REO home about a month ago. Contract fully executed by the asset manager for FNMA. Everything's been going fine and loan docs are going out today. Buyer should've been closing by Monday or Tuesday. I get a call from the listing agent this morning with the bad news. She says we can't close because they weren't supposed to take investor offers until the property's been listed for 15 days according to FNMA guidelines. With the bank's addendum pretty much waiving any liabilities or duty to perform, is there any course of action my client can take to get seller to close??
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#329635 - 03/04/10 03:09 PM Re: Sellers Cancelling on client the day docs go out [Re: 916Realtor]
Grampa Major Contributor Registered: 06/30/09 Posts: 2247 Loc: Margaritaville	That would be a NO. Hope no one else writes and wait it out. Good luck _________________________ "Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." Dr. Seuss
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#329670 - 03/04/10 07:20 PM Re: Sellers Cancelling on client the day docs go out [Re: Grampa]
super realtor Major Contributor Registered: 05/01/05 Posts: 8391 Loc: georgia	Well someone really dropped the ball on that one! Hopefully it works out for your buyer.
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#329762 - 03/05/10 11:38 AM Re: Sellers Cancelling on client the day docs go out [Re: super realtor]
Steve Howe Member Registered: 12/27/08 Posts: 173 Loc: Minneapolis, MN	Yet another example of why banks SUCK at selling real estate. _________________________ Steve Howe - REALTOR - RE/MAX Advantage Plus MN First Time Home Buyers Programs - Blog for First Time Home Buyers First Time Home Buyer Class - Get the Facts Before You Buy SteveH [at] MNRealEstateTeam [dot] com
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#329796 - 03/05/10 03:02 PM Re: Sellers Cancelling on client the day docs go out [Re: Steve Howe]
Maui Moderator Veteran Member Registered: 01/13/10 Posts: 707 Loc: Maui, HI	Please give an update when everything settles. Somebody really screwed the pooch on that one. Good luck. _________________________ Search Wailea Condos For Sale , then subscribe to our Maui real estate blog and Maui Wordpress Blog for local events and market stats. View one of the best values of Maui luxury real estate in this Honua Kai Condo For Sale.
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