[quote=bowie]We will not knowingly commit mortgage fraud. [/quote]
Well that’s a pleasant surprise! Good for you!.
If you can convince the sellers to extend the escrow then that’s probably the easiest/best thing. And if the sellers think you are serious about going through with the purchase it seems to me they would not be adverse to that.
Biggest obstacle I would expect to this is seller’s agent who probably wants the deal to close so they can get their commission. But having the deal fall through is not attractive to the seller’s agent either.
You can try to get an exception from the loan company, but I think that will be very hard to get.
I think your strategy should be to go to your agent and make two things very clear:
1) You do want to buy the house, you do not want to have the deal fall through.
2) You will have to let the deal fall through if a solution is not found.
Since your agent will get no commission if the deal falls through, they should now be very motivated to find a solution. This is the kind of problem they need to solve to earn their commission.
Keep in mind here, if the sale falls through no one gets a commission and the sellers don’t sell the house. That’s not good for anyone. Toss the ball back in their court with the understanding that you are very interested in finding a solution but either the bank (unlikely) or the seller (much more likely) needs to work with you on this.
