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Lender Forgot to Get VA Condo Association Approval--24 Days Past My Closing Date. Recourse?

Summary: My gorgeous new condo unit is built, had final inspection, I'm approved for a VA loan, but the VA has not issued a condo association approval and so we can't close--do I have any recourse?

I have a contract to build and purchase a new home, a firm settlement date on Oct 7th, and the builder/lender (the mortgage company are sister firms in the same corp.) has $30k in my original earnest money and $51k proceeds from my house sale.

That's the problem: I sold my old home Oct. 1st planning to move in on the 8th. The mortgage lender came back and admitted they had forgotten to file paperwork for the condo association approval until 4 days before settlement, and then compounding this the VA is super behind now (COVID supposedly) and what should have been a 3-10 day wait is stretching out now to 30 days.

I don't know what to do. All my home goods are in storage, I'm shuttling from hotel room to AirBnB to hotel room, and my life is pretty much on hold. The builder offered to make up the difference between my presumptive mortgage payment ($115) and my average cost of temp. housing, but I can't keep going on like this.

I'm going to try and find a real estate attorney soon, but was wondering if other folks have ever had a similar experience and insight?

submitted by /u/Mbando
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/qjsdsw/lender_forgot_to_get_va_condo_association/
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