Real Estate: California/delay on docs....

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Question
hello there  my wife and i trying to buy a home in so CA. everything was going well ..
we received a call from the  lender..
saying that we need  a total 12k  when we had already said that we have 10k total we had paid credit cards to get our score higher. and other fees that come with the house .  the lender wants to close  escrow by the 8th of march . we are a little tight with $$  we expecting our tax returned in a week to help us out... they want the money in few days  from now  how can we extent escrow or what are our options..

Answer
Rick -
Always best to talk with your loan officer and real estate agent to help you through these challenges as they are most knowledgeable about the details of your purchase.  

When you applied for the loan and your purchase contract accepted, you should have been provided a Goof Faith Estimate (GFE).  This outlines the cost of the loan and closing cost for your purchase.  The allowable variance is 10%.  Review the GFE with your loan officer and see how best this can be worked out.

Your options are dependent on where you are in your contingency periods, your GFE, and the seller's willingness to work with you.  

Best of luck!
CJ

Real Estate: California

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CJ Brasiel, Broker Associate

Expertise

I can provide information on the buying and selling of residential homes. I am knowledgeable regarding distressed property sales including short sales and bank owned (REO) transactions. I know the greater San Jose area well and specialize in local markets like Willow Glen, Blossom Hill, Santa Teresa, Rose Garden, Campbell, and downtown San Jose. My passion is for green and green remodeling of homes.I work with clients utilizing staging and the internet to maximize their buying and selling power. I do not handle commercial real estate or handle 1031 exchanges for residential real estate.

Experience

Over 7 years in the real estate arena, representing buyers, sellers, investors, distressed property owners. Experience in short sales, REOs, and equity sales and purchases.

Organizations
National Association of REALTORS(R) California Association of REALTORS (R) Santa Clara County Association of REALTORS (R) Womens' Council of REALTORS (R)

Publications
Mercury News and KRON San Jose TV News Channel

Education/Credentials
Bachelors in Business Management REALTOR(R), Senior Real Estate Specialist, green certified, Certified Distressed Property Expert, Certified HAFA Specialist

Past/Present Clients
References provided upon request

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