Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am under contract to purchase a home in Nassau County, NY. The seller has 60 days from commitment to close.
They have just advised my attorney that they need an additional 3 months to close on top of the 60 days provided by the contract. The house that they are buying, the deal fell through and they are buying another house.
I told my attorney that there is no way we would agree to that and would pull out of the deal if we do not close by the time allowed in the contract. My rate lock has already expired and I will not be extending it.
Is there any way we can have the seller reimburse all of our expenses (appraisals, inspections, attorney fees, etc) once the 60 days is up?
The seller would be in breach of the contract in my opinion. My attorney told me that unless I can prove that the breach was wilful, then we cannot collect anything outside our deposit.
Here this situation could be a small claims court action because it is specified in our contract that way. Alas, this is Oregon and not NY. Your legal remedies for breech of contract should be spelled out in your contract which your attorney has written. I agree with MikeJ that if you are concerned that your attorney's advice isn't accurate, then seek a second opinion.
Frankly I think your seller is being ridiculous, it could be months before they find another buyer. What if their new purchae falls through too? Do they expect you to just keep waiting? They should just move into temporary housing and complete on time as scheduled.
Frankly I think your seller is being ridiculous, it could be months before they find another buyer. What if their new purchae falls through too? Do they expect you to just keep waiting? They should just move into temporary housing and complete on time as scheduled.
Totally agree. The seller is beyond stupid for doing this. Any chance someone could talk some sense into them?
sorry to hear about that deal. This just has FAIL written all over it.
Hopefully there will be some compromise. Did they even sign an addendum to the contract with the request at any point? Jeez, fire the sellers agent and toss the sellers into a short term apartment.
Not sure what part about "house of sale" the sellers didnt understand before putting it to market. lol
Ask your attorney if you can force specific performance per the contract.
+1
Specific performance is what you want.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
