[MrNovice]

I have accepted an offer on a property .I am a novice on this type of transaction . Property was to close in 30 days . The city will not let the transaction complete until all the inspection items pass . I unfortunately cannot complete the removal of a gas wall heater in an older house on time , as we could not shut off gas service without PG&E coming out and looking at the shutoff valve which appears to be stuck .Once this is done and the heater is removed I will likely have to wait days for the city inspector to arrive and sign off . If I can't meet the deadline is it reasonable to ask the lender funding the loan , to extend the time needed to comply ? And how much grief can I expect from the buyer ? Thank You .

[CliffARobinson]

You said PG&E, so you are in California. First, I want to say congratulations and I know how much stress you are going through. Make sure you take lots of deep breaths and try to remember there will be more important things in life someday, even though it doesn't feel like it right now.

Have you kept all parties informed of the issue? That is my number one suggestion: communication.

Do not expect your RE agent to do it all. In my case, he didn't get along with the seller's agent, who was selling on behalf of a bank, (foreclosure sale), so I kept everyone in the loop. There is always lag time on someone's part.

You are stuck in the middle with a sense of urgency you've never felt before while all the other players are acting like business as usual. Well, it is for them. For you, it's not.

To answer your question, it's in everyone's best interest to be flexible, but you have to maintain good communication. It is essential you not surprise anyone with information you have been holding. Be nice and polite, but keep everyone informed. Does this help?

[joypulv]

You don't contact any lender (assuming you aren't borrowing anything). You ask the buyer for an extension in writing. There's a standard RE form for this. It is very common, but deals can fall through as a result, since the buyer doesn't have to agree. They usually agree though, since they almost always have already spent money by now if there's a loan.