9/19 Got a situation in closing escrow. We had an inspection with builder
and found problems. They have 5 days to fix them. Our final
walkthrough is next Wed 3pm. But then we also have to fund and sign
the loan documents on Wed noon, (before the final walk through). If
we don't sign the loan documents on Wednesday, closing moves into
October. If there are problems that the builder hasn't resolved, we
don't sign off on them then closing moves into October. Is there a
problem with signing the loan documents before finding out if there
are any problems the builder hasn't fixed even though we have the
right to not sign off on the itemized list of problems?
\_ yes. once you move in, you can't use the threat of cancelling
as leverage. Their hurry tends to go away.
\_ Shouldn't your real estate agent be taking care of these things?
\_ New homes don't have agents. Just you and the builder. Hey
who is the builder? Which company?
\_ Tell the builder if you don't get final walkthrough before signing
docs, you'll walk away from the deal. Consider suing them for any
monetary losses in the escrow (up front payments, etc.). Once you're
legally bound, you're screwed.
A little more leverage would be to find if the loan has a 3-day
recision (back-out) clause. That would allow you to sign the papers,
but cancel them after the walkthrough. |
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