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Beags213 · Joined: 06 Aug 2009 Posts: 1 1.00 Dollars($)

im buying a short sale home in NJ. We were supposed to close in April, now thats its August, we are being told the only thing holding up the closing is the sellers need to sign a promissary note to pay back liens that are on the house. Is there a time limit for the sellers to sign this? We've been waiting almost 5 months for them to sign this promissary note. Nothing else worth walking away from this house can come up.Any advice?

jameshogg · Posted: Thu Aug 06, 2009 8:36 pm Post subject:

Hi Beags,

You need to contact your lender and check what steps they have taken to make the sellers sign the promissory note. I don't think it should take so much time for them to sign the note. If the sellers are not ready to pay off the liens, then you will have to pay it off if you buy the property.

Thanks

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Time limit to signing promissary notes?