2006-07-25 15:53:43 · 7 answers · asked by mattbkahn 1 in Business & Finance ➔ Renting & Real Estate
It depends on wether or not the closing date was made a part of the contract ... as in a condition to be met (time of the essense) and not just the standard estimated date for closing included in all real estate contracts.
I do 2 or 3 closings a day, and I can't even begin to tell you how many people believe that the date in the contract is a "firm" date. It's not. Like the previous poster said, it's an estimated due date like when you are pregnant.
No matter how many times I tell them that date is an estimate, people will still give up their apartments, have their utilities disconnected, etc in anticipation of having a closing on that exact date. There are just too many variables involved (lender issues, title issues, scheduling problems, seller issues, etc).
2006-07-26 03:31:46 · answer #1 · answered by BoomChikkaBoom 6 · 2⤊ 0⤋
You didn't really give enough information as to what the situation is to help you out... like where you live.... If you have lost money because you were supposed to move out by such a date based on what you new home contract said and you have no where to go because your new home hasn't closed..... Basically if you are experiencing problems because of what they told you and what was in PRINT then you have something... if you are just complaining cause there was a complication then you don't have much... how would you feel if you found out there was a serious problem that the banks investigators found and so therefore didn't want to fund the loan, or wanted the repair written into the contract.... but these are two perfect instances of why you deserve to have someone on YOUR team to help you out with life.. 1. You signed a contract for something that will tie you up for the rest of your life and you don't really understand it... 2. You are being jerked around and the people doing it think that there is nothing that you can do, cause for the average person that is true... if you are sick of situations like this take a look at my "protecting your family" yahoo360 blog and make sure something like this never happens again......
2006-07-25 16:37:24 · answer #2 · answered by mallicoatdd 4 · 0⤊ 0⤋
I would be contacting an Real Estate Attorney. There are a lot of issues they can handle with ease and they will be there for your closing to make sure you aren't being taken by a ride by the closing company, or the loan agent.
2006-07-25 16:01:12 · answer #3 · answered by lilbitevil2 2 · 0⤊ 0⤋
1. READ YOUR CONTRACT.
2. Call your realtor! If you don't have a realtor, you're going to wish you did, because you NEED their experience and expertise right now.
3. Contact a real estate attorney if you don't understand the contract.
2006-07-25 16:10:55 · answer #4 · answered by thetoothfairyiscreepy 4 · 0⤊ 0⤋
what state are you in? what does the contract say? The closing date is actually a target date. similar to pregnancy due date.
It still depends on what is written in the contract. you may have some recourse. depend on who is holding the closing up. if it is your lender. you might end up paying the seller.
2006-07-25 16:01:38 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If it is clearly the other party's fault, you may be entitled to damages equal to the earnest money that was paid. It all depends on what state you live in.
2006-07-25 16:11:59 · answer #6 · answered by Hesed 3 · 0⤊ 0⤋
This question, without a lot more information, is meaningless. What state are you in? What is holding it up? What is the issue at stake?
2006-07-25 16:10:45 · answer #7 · answered by Searchlight Crusade 5 · 0⤊ 0⤋