15 Jul Buyer has gone MIA after signing purchase offer?
Hey all- question for you seasoned real estate pros. My mom is selling her home in NY state. She got a pretty good all cash offer and accepted. Buyer put down a 1k deposit. Buyer wanted a 30 day close, which would put closing date at July 27th, but mom wanted a bit more time- but everything was signed.
Problem? This all happened two weeks ago and the buyer has since gone radio silent. Their agent hasn’t heard from them and can’t reach them. No inspections have been scheduled.
What gives? Anyone ever experienced this? Her agent says they’ve never been in this situation. How long does she have to wait until she can accept a different offer without penalty?