Has anyone had this issue before?

[jimonb]

We put in an offer of $87 per point for 150 points at SSR. The contract was listed with a close after date of 4/24/18, as the current owners have one last trip scheduled. The offer was accepted same day, 2/5/18, and passed ROFR on 2/28/18. The late close after date helped us out to collect all of the needed funds. We are also financing this for a couple of years through Monera. (I know, I know but not here to discuss the cost efficiencies of financing).
Anyways, today, 3/13/18, we received our closing documents. I have read on these boards that it wouldn’t even go to Estoppel until after the seller’s trip. Also, there is no information on the loan at all in the closing documents, just wants me to send a check for the entire amount.
I have emailed the title company (First American), hopefully we’ll figure this out.

 

[thelionqueen]

That sounds odd, but I don't have any first hand information regarding buying resale with a "close before date." However, I do have first hand experience with First American and I wouldn't trust them to feed my goldfish. I would call your broker and ask... avoid FA if you can.. just my .02

 

[CraigInPA]

I'd contact first american and ask them if the seller has waived the "close after" date. It may be that their closing agent didn't see that in the paperwork. Either way, I don't think I'd want to pay in full now for a sale that won't close for more than a month.

 

[gharter]

Another vote to contact First American and your broker. i wouldn't send a penny until you know the seller is done with all their trips and you know for sure how many points are coming. It will not pass Estoppel if the seller still has a trip planned with those points. maybe they missed the can't close before date or maybe the seller cancelled the trip.

 

[supersnoop]

You can close the day they check in. The money and contracts can be prepared in advance.

Unless the lender is placing a lien on the property, there won’t be anything about it on the closing papers. It’s a personal loan just like you went to the bank; they give you money and you pay for the contract. Okay, maybe they send the check directly, but they don’t have any standing at closing. That’s normal.

 

[jimonb]

Well, received corrected closing documents today. All is well.