We are the sellers. Found out the morning of closing that the buyer was short on closing funds in excess of $13k. They’ve asked for an extension of 7 days. This is the second extension – the first was for 5 days due to what they said was a family emergency. I’m beyond frustrated. How does this even happen?! I had a detailed loan estimate before we made an offer on the house we want to buy, and knew exactly if I was going to be able to cover the closing costs. Do people really buy homes without having an understanding of closing costs??
Read more at https://www.reddit.com/r/RealEstate/comments/1dl8z9k/buyer_short_on_closing_funds/?utm_source=ifttt
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