In Escrow And The Seller Doesn’t Respond
In escrow and the seller doesn’t respond, yes folks, as strange as it sounds, it happens. We sent in documents over a week ago and called every day, and no response from the seller. The buyer doesn’t understand why the seller is not communicating. The seller’s agent said he had tried everything, calls, text, email, and no response from his client. The buyer has an option to cancel, but she already cashed in her investment funds and paid thousands of dollars on inspections and an appraisal.
I don’t think this will end well. The buyer really wants this property, so my guess we will end up in court. The buyer has nothing to lose and has performed on every level. At this point, the buyer may go ahead and sign the loan documents and send the seller a demand to close escrow.
The seller’s agent is dumbfounded on what to do here. I am not sure the seller understands the process nor the consequences of not responding. I can not say in 25 years I have never seen this happen. We are supposed to close this Friday. Well, that’s not going to happen. I set an addendum extending the escrow’s close; however, I’m not sure he will sign anything as the seller is not responding.
Stay tuned, and I will let you know next week what happened.
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