Posted on: 23rd Mar, 2009 08:05 pm
We are in a little bit of a pickle. We are suppose to close tomorrow, and we have to close tomorrow or we lose the house.
We are putting 20% down and most of the funds we are using for our downpayment are coming from my trading account. I requested my funds be wired from my trading account last Tuesday and they still have not posted to my account. I have called everyday and constantly been working on it. I learned that today even if they post at 8:00 am I might not be able to get the cashiers check or be able to wire them to the Title company in time for closing. I have $22k out of the $90k to close. What can I do? I am sick that we might after everything we have been through to get this house loose it because of this missing wire.
We are putting 20% down and most of the funds we are using for our downpayment are coming from my trading account. I requested my funds be wired from my trading account last Tuesday and they still have not posted to my account. I have called everyday and constantly been working on it. I learned that today even if they post at 8:00 am I might not be able to get the cashiers check or be able to wire them to the Title company in time for closing. I have $22k out of the $90k to close. What can I do? I am sick that we might after everything we have been through to get this house loose it because of this missing wire.
Hi kacistephens
I can understand that you are in a tough situation because of the missing wire. However, I don't think you have much to do in this case. You can request your lender to postpone the closing by 2-3 days so that you can get hold of the funds. But it would be the lender's discretion whether he would accept your request or not.
Thanks.
I can understand that you are in a tough situation because of the missing wire. However, I don't think you have much to do in this case. You can request your lender to postpone the closing by 2-3 days so that you can get hold of the funds. But it would be the lender's discretion whether he would accept your request or not.
Thanks.
I'm sure that if you are this close to the closing table everyone will understand and be wiling to wait for your funds to clear.
yes, indeed - a postponement of a day or two ought not to raise anyone's blood pressure all that much.
Maybe just hte posters blood pressure :)
I would have to agree. Every title company is going to require "good funds". Funds from your retirement account are not readily available and you will have to wait until they release funds to your bank so you can wire to the title company. As long as you are open with all parties involved, I don't think there should be any quarrel about this.