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    vatlap's Avatar
    vatlap Posts: 1, Reputation: 1
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    #1

    Jan 16, 2010, 10:01 AM
    Commitment letter from the bank
    I really need some help from an unbiased expert. I got my commitment letter from the bank, I'm ready to put 30% down for my condo, everything is ready, but odd enough my attorney and I haven't heard a word from the seller in the last two weeks. I know that if I decide to break the contract at this point the seller and the bank will go after me, but how do I get the seller to give me an answer about the closing date? This whole situation is absurd. Is there anything that I can do legally speaking to exercise pressure on the seller at this point? I can't wait forever, the longer I wait the more expenses (storage space, month by month lease) I have to face. Can anyone help me with this issue? I'd really appreciate it. Thanks
    rosemcs's Avatar
    rosemcs Posts: 325, Reputation: 47
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    #2

    Jan 16, 2010, 10:28 AM

    I am a Real Estate Agent:
    I have to ask a few questions first.

    What state are you in?

    Are you in escrow? If so, how long ago was escrow opened?

    If you are, are you aware of the amount of time you have to back out of the whole situation and get your money back? Each state has different times. For example, CA has 17 days where you can get your deposit back and walk away.

    Is a real estate agent representing you as a buyer?

    The reason why I ask is the answers will be different depending on those variables.
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