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I am in escrow which was to close today by contact tomorrow..

Customer Question
The seller (Citi Bank) has...
I am in escrow which was to close today by contact tomorrow.. The seller (Citi Bank) has failed to provide a grant deed resulting it a stall. No one can say why. I have provided my down payment and my fantastic interest rate is scheduled to end tomorrow ( a verbal OK from the lender extened it 3 days). I wanted to see what is suggested in getting this either taken care of or if I cant keep this rate, what financial obligation does the seller have in compensation?
Submitted: 8 years ago.Category: Real Estate Law
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Answered in 2 minutes by:
6/18/2010
Real Estate Lawyer: P. Simmons, Lawyer replied 8 years ago
P. Simmons
P. Simmons, Lawyer
Category: Real Estate Law
Satisfied Customers: 37,673
Experience: 12+ yrs. of experience including real estate law.
Verified
Thanks for the chance to help. I am an attorney with over 12 years experience. Hopefully I can help you with your legal question.

If you are in contract with a close date of tomorrow...and the seller is the cause of the delay, then you can void the contract AFTER the deadline has passed.

Or you can ask Citi to compensate you to extend.

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Customer reply replied 8 years ago
What would the compensation include.. If I cant keep my current rate and it goes up say a quarter of a percent, would the be responsible for paying me based on the life of the new loan? What about cost associated with my rent that I have to pay staying where I am?
Real Estate Lawyer: P. Simmons, Lawyer replied 8 years ago
Thats between you and Citi...you can negotiate whatever you can get from them. At the end of the day, if its their fault, you can walk...do they care? I dont know...but if they do, they may be willing to give you something for more time to complete
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