Under seller's terms, we are using a well known and reputable title company. I signed the escrow instructions and delivered my deposit to the title company last month. The seller hadn't responded to my last email, so I called the title company to check status.
The lady at the title company said these sellers are in escrow on multiple timeshares. The sellers left the country abruptly due to an undisclosed family emergency and the escrow instructions were not signed yet. The title company said sellers mentioned getting a power of attorney to complete their transactions. Until then, the escrow company cannot move forward with Marriott on ROFR paperwork. As the purchase price is among the lowest I've seen for this resort, I'd like to know the outcome of ROFR asap. If I cannot buy it, I would continue my eBay search for another bargain and try again. Time is also important here, as I've accepted responsibility for 2011 usage/fees. No reservations are in place yet. Seller does not respond to any emails.
Did my sellers fly the coup? What should I do?
The lady at the title company said these sellers are in escrow on multiple timeshares. The sellers left the country abruptly due to an undisclosed family emergency and the escrow instructions were not signed yet. The title company said sellers mentioned getting a power of attorney to complete their transactions. Until then, the escrow company cannot move forward with Marriott on ROFR paperwork. As the purchase price is among the lowest I've seen for this resort, I'd like to know the outcome of ROFR asap. If I cannot buy it, I would continue my eBay search for another bargain and try again. Time is also important here, as I've accepted responsibility for 2011 usage/fees. No reservations are in place yet. Seller does not respond to any emails.
Did my sellers fly the coup? What should I do?