Board extends Woodlawn Lots closing to January 24 after financing delay

The Carroll County Board of Supervisors voted to extend the closing date for the Woodlawn Lots to January 24 after staff reported the buyer’s financing plan had changed.

When the property was bid on November 9, the buyers believed they had a credit-line deed of trust available from a local bank, but that lender later declined that product. Mister Newman explained that the buyers had to secure new financing with a different bank and were scheduled for an appraisal the following day. “When they bid the property off, on November 9, they were under the impression that they had a credit line deed of trust with one of the local banks… they went to another local bank, and they were going to require the Deacons to personally sign the loan… so they ended up with the bank out in Abington, and they're supposed to be doing an appraisal tomorrow,” Mister Newman said.

The chair moved to extend the closing to January 24; the motion passed on a recorded vote. Staff said they would monitor the appraisal and closing logistics and return any final documentation to the board as needed.

What happens next: staff will coordinate with the buyer and lender to confirm the appraisal and final closing steps and report back to the board if any additional extensions or conditions are required.