Buying a house even worse than I thought. And, I thought I had really low expectations. Everything was proceeding merrily along, having worked hard to compile all of the necessary due diligence, being responsive and keeping everyone happy. My work training paying off, or so I thought.
Yesterday, as I was walking out the door to meet with the interior designer, a mere nine days before my closing, my mortgage company (WF), called to say that they had absolutely everything they needed from me.
Just one teeny, tiny, itsy bitsy problem: they needed the condo board to amend its bylaws.
Uh huh. As if that is something that can be accomplished in a week.
After trying my best to make it happen, and browbeating the broker into asking one more time for an exception, I had to cancel the deal with WF and start anew with another broker. Now, my closing is going to be delayed. All the fees incurred with WF are for naught. And, I suspect I might incur a penalty from the seller for delaying the closing. If so, one sternly worded and threatening letter is going to WF demanding my lost costs for their negligence.
Does the bank's name rhyme with Bells Cargo? What did they want amended in the bylaws?
ReplyDeleteYou cracked my code! They wanted one sentence waiving a right of refusal as to the mortgagee because apparently to them, having a guaranteed buyer in the event of foreclosure is a bad thing.
ReplyDelete