closing on house postponed

For any who haven't heard, I did not close on my house on Tuesday as scheduled. I assume that is some of the fallout from the present economic condition. The buyer was initially working with Chase for her mortgage and had to switch to another lender.

I can understand that given the present situation. However, it would have nice if her realtor had let us know there was an issue a little sooner. It was after 3pm on Monday before we were informed that she could not close at 11am on Tuesday as scheduled.

Among other things, I had rearranged my work schedule since Tuesday is one of the three days I am working. (Yes, we are still on the reduced work week.) Of course, I had scheduled to have the utilties turned "off" (which usually means transfered to the buyer who has then turned "on"). I had to quickly "stop" my "stop order."

I knew when I called on Thursday to schedule the turn off, she had not yet scheduled a turn on. That's evidence that she already knew she wasn't going to be able to close on Tuesday, but waited until the 11th hour to tell us.

And, of course, it continues to "cost" me daily until I finally reach the closing.

She had "requested" (though "demanded" seems like the more appropriate term) an additional 9 days, until the 16th - but the realtor kept saying that she really wanted to get moved and would close as soon as the lender had the paperwork ready. (Part of the hold up was that their appraisal was not done until last Thursday, 10/2). As you know, it's either grant the extension or put it back on the market and start all over.

Well, I'm told the lender will have all the paperwork ready "the first of the week" - but she scheduled closing for 4pm on Thursday, 10/16. Once again, they do not seem to care about "good faith effort" to what they say. :-(

Here's where it gets even more fun!

1. I am taking a series of classes that run 4:30 - 7:30 on Thursday evenings. They ask us to be there by 4:15 to check in each week. How does one close on a house at 4pm and be across town by 4:15? Answer: You can't!
2. I am supposed to be leaving town EARLY the following morning for 10 days. That means I really need to finish my business dealings with the house BEFORE I leave. Specifically, I need to pay off the bridge loan so that I do not have to continue paying interest on it for another 10 days.
3. Even though they did move the timing of the closing up to 3pm, given how long they usually take I cannot be there and wait on them to finish all their paperwork and be sure I will make the class by 4:30 (much less 4:15). Hence, I will have to go in early and sign paperwork. But, of course, I can't get my money early!
4. If you are in class until 7:30pm and are leaving before the banks open the next morning, how do you get the money from the sale in the account and transfered to the mortgage company?

Fortunately, my bank is willing to work with me on the transfer. I can give the information and authorization, and they will make the tranfer as soon as they money is transfered in. However, if the transfer does not occur until after 4pm, it will not show until the following day.

I also have a question in to the Title company (via my realtor) to see if they will make two transfers for me - one to the mortgage company with whom and I have the bridge loan and the remainder (which is not much!) into my bank account. If they will do that, it will make things a little less complicated for me. Pray that I have favor with them.

I will be SO glad when I get past all this! One more week.