Episode Details

Your buyer's loan just died three weeks before closing. What happens to your deal, your timeline, and the deposit sitting in escrow? This episode walks a Providence seller through the dates that decide it and the Rhode Island procedure that governs the money.

In this episode:

- Why your mortgage commitment deadline is a different date from your closing date, and why the earlier one usually decides who is protected

- The difference between a loan that is genuinely denied and a buyer with second thoughts, and why a financing contingency does not cover the second one

- What I ask a loan officer before bringing an offer to a seller, and what I am not entitled to see

- How to handle an extension request, and the red flag in a request that comes with no explanation

- What Rhode Island law actually does with a disputed deposit: the good-faith determination, the certified-mail notice, and the sixty-day window

- The 180-day rule, corrected. It is real, but it is a deadline on the broker to send disputed funds to the General Treasurer, not a period for settling the dispute

Read the full article in English:

https://alexparmenidez.realtor/blog/buyer-financing-falls-through-providence-ri-seller-guide/

Lea el articulo completo en espanol:

https://alexparmenidez.realtor/blog/financiamiento-comprador-falla-providence-ri-guia-vendedores/

Alexander Parmenidez, Broker Associate, REALTOR®

Coldwell Banker Realty, licensed in Rhode Island, Massachusetts and Connecticut

Call or text: 401-426-4857

196 Waterman St, Providence, RI 02906

This episode was narrated with an AI clone of Alexander's voice.

General information, not legal, tax or financial advice. Confirm your own contract terms with your real estate attorney. Equal Housing Opportunity.