My real estate agent set our closing date too soon for us to get a loan from a bank.

First time buying a house. My wife and I were pre-approved with a lender our agent recommended and just came under contract with the buyer a few days ago. I've been looking for loans and decided to go with our bank since they gave us the best rate but they need 30-40 days to process everything so they probably can't process it before our closing date (19 business days from now).

My agent is trying to ask the seller about an extension but is not hearing anything back.

I may be thinking of the worst, but a couple of things smell fishy. My agent is assuring me that the lender he recommended can get it done before the closing date (this lender is also telling me he can get it done in time). It's also strange to me that he would set the closing date so soon. Now it's virtually impossible for me to secure a loan with our bank even though I just came under contract a few days ago.

In hoping the seller easily agrees to an extension, then there would be no problem. Is there anything I can do now to improve this situation?

More real estate tips at Program Realty Wix site


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