Bad closing deal?

[muybien]

What is the name of your state? NJ

We bid on a house in April and the sellers asked for 90 day closing. We agreed and settle on a mortage rate with closing on 8/1. The sellers are now asking for more time with closing, which we also agreed to but with closing on 8/1 still and then them paying rent.

I'm at work and don't have the contract but pending on what the contract reads, is there a legal/reasonable number of days that a seller can push the closing date? I'm really not willing to the later closing and my realtor recommended lawyer stinks. The lawyer is telling me to just deal.

In addition, what happens if both sides are not able to come to an agreement with this issue? The sellers don't want to pay us what I would consider reasonable payment for the 2 weeks that they are asking for. What other legal action can I take to push them to close on time or pay us for the 2 week delay?

Thank you.

[HomeGuru]

Originally Posted by muybien

What is the name of your state? NJ

We bid on a house in April and the sellers asked for 90 day closing. We agreed and settle on a mortage rate with closing on 8/1. The sellers are now asking for more time with closing, which we also agreed to but with closing on 8/1 still and then them paying rent.

I'm at work and don't have the contract but pending on what the contract reads, is there a legal/reasonable number of days that a seller can push the closing date? I'm really not willing to the later closing and my realtor recommended lawyer stinks. The lawyer is telling me to just deal.

In addition, what happens if both sides are not able to come to an agreement with this issue? The sellers don't want to pay us what I would consider reasonable payment for the 2 weeks that they are asking for. What other legal action can I take to push them to close on time or pay us for the 2 week delay?

Thank you.

**A: if you can't agree, you can termiante the deal.

[muybien]

Reviewed the contract and it reads "closing on or before July 1..." then a star to note "with flexibility to August 1, 2005.", which is what I signed. When the sellers signed, an additional astrick was added to read plus 15 days which I didn't see until after the contract was executed.

If terminated due to inability to agree, I still lose down payment correct?

[HomeGuru]

Originally Posted by muybien

Reviewed the contract and it reads "closing on or before July 1..." then a star to note "with flexibility to August 1, 2005.", which is what I signed. When the sellers signed, an additional astrick was added to read plus 15 days which I didn't see until after the contract was executed.

If terminated due to inability to agree, I still lose down payment correct?

**A: any thing else you're not telling? Or should we just guess?