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Old 11-18-2002, 11:16 AM
chanceac
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closing date different from transfer of occupancy?


What is the name of your state? Connecticut

I'm a first-time homebuyer- contract states our closing will take place 12/3. For weeks I have been asking my attorney to confirm a time for the closing with the sellers and their attorney. Sellers finally replied they don't want to close 12/3 but rather they want closing to be 12/4 - and then stay in the house for two days - move out on 12/6 - and they said that we could then move in on 12/7. It seems that in our state, sellers can extend the closing date for three days penalty-free. They won't be ready to move out until the 6th, but their attorney is not available to close on that date.

I'm very unhappy with this arrangement - have already scheduled movers, time off etc. - most importabtly, I'm uncomfortable closing on the house before we take possession. Sellers offered to put $9kin escrow - but that won't cover much in the event they cause major damage.

What I can do in this situation? What are our rights to insist on a timely closing as buyers? Is it very risky to delay transfer of occupancy after the closing? Thanks for any help or suggestions.
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Old 11-18-2002, 11:41 AM
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Join Date: May 2000
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Re: closing date different from transfer of occupancy?


[quote]Originally posted by chanceac
[b]What is the name of your state? Connecticut

I'm a first-time homebuyer- contract states our closing will take place 12/3. For weeks I have been asking my attorney to confirm a time for the closing with the sellers and their attorney. Sellers finally replied they don't want to close 12/3 but rather they want closing to be 12/4 - and then stay in the house for two days - move out on 12/6 - and they said that we could then move in on 12/7. It seems that in our state, sellers can extend the closing date for three days penalty-free. They won't be ready to move out until the 6th, but their attorney is not available to close on that date.

I'm very unhappy with this arrangement - have already scheduled movers, time off etc. - most importabtly, I'm uncomfortable closing on the house before we take possession. Sellers offered to put $9kin escrow - but that won't cover much in the event they cause major damage.

What I can do in this situation? What are our rights to insist on a timely closing as buyers? Is it very risky to delay transfer of occupancy after the closing? Thanks for any help or suggestions.

**A: talk to your attorney and let him/her know that the date of closing and recording is the date that the Seller must be out of the property. You must take possession upon legal ownership.
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