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08-10-2005, 05:39 PM
| | Junior Member | | Join Date: Aug 2005
Posts: 2
| | | Owner wants to stay?
What is the name of your state? NJ
We have a rider to a contract that says both parties agree the closing target date is Oct 15th, 2005. We also have a line that reads. The parties agree that they will coordinate the purchase with the sale of the purchaser's current home, but agree that in no event will the Closing take place later than October 15, 2005. The owner is now saying that this line protects him as well, as the house he is building isn't finished. He wants to sell and occupy for two more months until Nov 1st. As I fail to see anything but the purchaser mentioned in that line, him and his lawyer seem to think that it gives him until Oct to stay, not moving the closing though, just staying? We have responded that we will put a time of the essence on August 15th, and their lawyer told our realtor that if we do that they will not show up for the closing, and thinks we won't sue. Can they ignore a closing? Are their any options we can take? |
08-10-2005, 09:58 PM
| | Junior Member | | Join Date: Aug 2005
Posts: 2
| | | Sorry it was target closing of August not October...
We have a rider to a contract that says both parties agree the closing target date is August 15th, 2005. We also have a line that reads. The parties agree that they will coordinate the purchase with the sale of the purchaser's current home, but agree that in no event will the Closing take place later than October 15, 2005. The owner is now saying that this line protects him as well, as the house he is building isn't finished. He wants to sell and occupy for two more months until Nov 1st. As I fail to see anything but the purchaser mentioned in that line, him and his lawyer seem to think that it gives him until Oct to stay, not moving the closing though, just staying? We have responded that we will put a time of the essence on August 15th, and their lawyer told our realtor that if we do that they will not show up for the closing, and thinks we won't sue. Can they ignore a closing? Are their any options we can take? |
08-11-2005, 09:47 AM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 75,781
| | Quote: |
Originally Posted by seanmh Sorry it was target closing of August not October...
We have a rider to a contract that says both parties agree the closing target date is August 15th, 2005. We also have a line that reads. The parties agree that they will coordinate the purchase with the sale of the purchaser's current home, but agree that in no event will the Closing take place later than October 15, 2005. The owner is now saying that this line protects him as well, as the house he is building isn't finished. He wants to sell and occupy for two more months until Nov 1st. As I fail to see anything but the purchaser mentioned in that line, him and his lawyer seem to think that it gives him until Oct to stay, not moving the closing though, just staying? We have responded that we will put a time of the essence on August 15th, and their lawyer told our realtor that if we do that they will not show up for the closing, and thinks we won't sue. Can they ignore a closing? Are their any options we can take? | **A: contact the attorney you should have hired before signing the rider. | |
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