What happens if we don't close 30 days after contract date?

What happens if we don't close 30 days after contract date?

Our contract date says June 1st and it looks like we aren't closing til July!!! I am so upset. I though you had to close 30 days after the contract date. We are basiaclly homeless soon and the sellers can't close cause they are missing paperwork they need. My lawyer is aweful too and doesn't seem to be helping us. Anyone know how this all works? BTW...we have paid $930 already to extend our rate.

Re: What happens if we don't close 30 days after contract date?

Is June 1st the date the contract was signed by all parties or the estimated closing date in the contract?

Re: What happens if we don't close 30 days after contract date?

Put the heat on your lawyer pronto. Something similiar happened to my Inlaws the contracts were deemed null and void, downpayment was returned and the house went back on the market.

Re: What happens if we don't close 30 days after contract date?

Re: What happens if we don't close 30 days after contract date?

Re: What happens if we don't close 30 days after contract date?

Our on-or-about date was February 28 and when we approached the end of March our lawyer sent a letter saying if a date was not set before the end of the month, we would schedule the closing for April 15 and if they did not show we would sue them to force the closing. That was enough to get them moving and we ended up closing the end of April.

Re: What happens if we don't close 30 days after contract date?

If you are living somewhere where you are paying rent (legally) and have a lease, sometimes you can 'force the close' or have the seller have to pay your costs to live where you are until you close. It really depends on your contract and you need to get your attorney to give you more answers. I would get him on the phone and have him explain to you exactly what is happening and what your recourse is. When we bought our first home, the seller was waiting for a house to be built and it ended up going almost a month after the 30 day after date but we couldn't do anything about it because we were renting a basement apartment. I finally got on the phone with the seller and told him my wedding was the following weekend and we needed to be in or we would have to back out. (the call helped and he moved out and yep, we got married the following weekend). Either way, you need to discuss this with your attorney. I'm so sorry you aren't having a pleasant experience with your attorney. If you need another one, let me know!

Re: What happens if we don't close 30 days after contract date?

Thanks everyone!!!

Re: What happens if we don't close 30 days after contract date?

Good Luck K

Re: What happens if we don't close 30 days after contract date?

First the seller didn't have the CO's to the extensions. We waited for that and she got that. It turns out now, the seller claimed bancruptcy w/ in the year, tried to hide it and needs all this paperwork to sell the house. We can't close til she gets it all from the bank. Hopefully soon.

Re: What happens if we don't close 30 days after contract date?

Does your contract have a 'time is of the essence' clause? If so, your lawyer should try to enforce it. But if not...unfortunately (as I've seen when I used to do closings) people close sometimes 45, 60 days after they are supposed to and there really isn't much you can do about it unless you want to try to back out of the contract. I know, it sucks.

Re: What happens if we don't close 30 days after contract date?

Re: What happens if we don't close 30 days after contract date?