We were contacted by a realtor with whom we have worked with before, and it turned out his parents were in a 1031 exchange and they had went to a bank for financing and unfortunately got the run around and wasted 30 days of escrow time to only find out that the bank could not finance the transaction for them. Unbelievable there was no reason for this to happen to them.
As a result of the delays caused by the previous lender we had to advise that they negotiate an extension to their escrow. The borrowers required a lot of hand holding during the process of collecting all required documentation and all the way to closing.
We not only financed this transaction but at much better terms that had been offered by the lender who had initially dropped the ball. The transaction closed before the end of year as we had promised and clients were happy.