sellers playing with closing dates... (appraisal, clause, insurance, rent)

[superfly10]

Pretty frustrating. So, overall, these sellers have been pretty reasonable to deal with.

We went into contract on the house in mid June, set a closing date of 8/11.

Along the way, I have made every effort to keep them informed (through my broker and atty) of our loan progress. Appraisal came back OK, I let them know. Got committment letter, I let them know. Got the clear to close, I let them know. I did this because I know they are making their own plans and would have wanted to know if my issues could possible hold them up.

All this time, word from their end through their broker was that we should please close ASAP, even if it's early because they already bought their new house.

So, I made arrangements to break my current lease early (cost me 3K), and must leave my apartment by 8/15.

First word this morning was they wanted to close Friday if we could... so I was trying to juggle stuff to get it done. Then my atty gets another call from their atty saying "actually, they're on vacation from 8/1-8-15, so they need to 8/21 to move out!"

I'm pretty annoyed to say the least.

Now, I know that closing dates are "on or about" which gives a 30 day window, but that's really for unforseen problems beyond your control, right? I mean, if all along they knew they were planning a two week vacation that made closing on 8/11 impossible, shouldn't they have let me know? This was a material concrete problem with the plan and they kept it from us... all the while encouraging us to hurry up from our end.

So now, I'll be homeless for a few days, have to pay to move twice (once into storage and once into the house) and have to pay to extend my rate lock. ugh.

[oldmanbob]

Bad luck, and sorry for your inconvenience. Could possibly have title co, go ahead, and have them sign, before they leave, and the title co, will deposit for them, on your closing. Happens lots.

[gbone]

Not sure what State you are in but in TN the closing date in the contract can only be changed with the written approval of both parties. Does your contract specifically allow either party to change the date without the other parties approval? Depending on what is in your contract, you may be able to recoup some of the additional expenses you have had if the seller's actions were not in accordance with the contract.

[redpanda]

What a pain! I'd suggest at least moving your stuff into those big PODS (there are several companies that rent them) so you only have to move it once...we used them for decluttering and they're awesome.

[aneftp]

Well I hate to tell you this. But you should always leave a couple of weeks of "buffer" time in between moving and closing.

I know it costs a few hundred dollars to extend the lease but it's worth the trouble.

You know the saying, a penny wise, a pound foolish.

It's like when I purchased the a home earlier this year. Firs the sellers wanted a Feb 15th date, than they changed it to a March 3rd date. Than they changed it back to a Feb 27th date.

So before all this happened, I told my apartment complex we would be moving out March 17th. Sure we pay for a couple of weeks extra worth of rent.

But we buy ourselves that extra insurance in case the closing dates changed. Plus we took our time moving.

[Silverfall]

Closings out here are on or before, not on or about...does your contract really say on or about?

You can't change the terms of the contract without consent, but I know some states don't have time is of the essence clauses built in from the get go.