Mortgage acceptance

Q: We have buyers for our house who have still not gotten WRITTEN mortgage acceptance.  They are closing June 26th and want to come into our house to measure for their furniture.  We have had the house off the market for close to a month and want to know if this issue we need to \”push.\”  Our lawyer has had verbal verfication of their loan.  We are uncomfortable letting these people in our home when they have no writtten commitment to buy.  Help.

A: Your purchase agreement should contain a ‘mortgage contingency’ clause which includes a timeframr in which the buyers are to obtain their written approval for said mortgage. Read the cause carefully as it stipulates what options either party has in the event the timeframe is not met. Also, just because they are past this date does not void the agreement. This means that the buyers are simply ‘out of contract’ . A much larger problem would present itself if the closing date was not met.You indicated your lawyer has spoke with the lender & all seems well. Good job on getting the professional guidence you needed. I would not be concerned or worried, just be (& stay) aware of the situation.Let the buyers come through to measure, this keeps them excited & on track with the transaction, focusing on the end result - the closing.