We just purchased a bank forclosure(Bank One)it was listed with a realtor. Our bank was not ready to close when scheduled. We asked (nicely) for an extension, there was already a predetermined late closing penalty in the contract for $25.00 per day.
You should not have a problem getting an extension if you ask. In our case it cost us $175 for a week.
I have a contract with a bank on a property that I need to close next week.Because of the quantity of properties I buy
,my plate can easily get full.Is there a good way that I can stall the closing for about an extra week to give myself some extra time? Unfortunately I did not put anything in my contract that would buy me extra time.Thanks
If you’ve got a good relationship with your title company, have THEM contact the bank and tell them it’s their fault that the deal can’t close on time.
The easiest way is to approach them NICELY, be contrite, and OFFER $$$ for their time. Maybe an extra $500 for a week’s delay. The worst they can say is no.