I have signed purchase agreements with buyer for 4 homes, 3 of them have all notarized deeds of trusts, lender funded escrow this morning, titles pulled, lender seller agreements signed by both parties as well. Seller and attorney sent a notice to escrow 5 mins before closing stating they want more 'upfront money' and additional collateral. They sent notice telling escrow to return lender funds because they wanted all to close concurrently however, there is nothing in the contract stating so.
The 4th house is to close next week and has $400k in escrow. Funding is a week away. Lawyer for seller is now asking for me to release $400k to seller to 'hold' physically, if I do so this will impact my loan that is in process as the down-payment amount is reason for getting the loan.
My hard money lender just deposited $2.2M into escrow this morning as they were instructed by escrow that they had all documents.
I was supposed to close today and the lawyer of seller said I cannot close unless I meet these 'new' demands. I will loose $110 in lender financing if the deal does not go through.
Can I force a Seller to follow through with our signed agreements?