The escrow process can be stressful for buyers and sellers alike. Inspections and mortgage applications give buyers extended to-do listings with tight deadlines, while sellers remain busy making repairs and preparing to close on their new homes. It’s typical for a single party to ask to delay closure escrow. Although it’s normally the buyer who wants more time, there are conditions that prompt a seller to extend the deadline. The purchaser’s best recourse is contingent upon the conditions of the petition and the details of the sales arrangement. Causes of Delays A seller might delay escrow in order to get more time to pack and move. It’s also possible that the seller might have experienced a glitch with funding his new residence or is going through a delay with that new property. These types of issues can be resolved with just a little patience. But if you are buying a…
The Seller Is Delaying Escrow
