Realtor made mistake on contract

[tdh610]

Delaware

Our realtor put the wrong closing date on our contract and we did not notice this until it was signed and that was a week ago. He verbally stated a date that we accepted and has been referring to that date in subsequent conversations. At the time of the signing, he said he was "fitting us in" because his schedule was so busy. He was very unorganized and did not even have a copy of the disclosure ( we had to go back another day for that). He did not go through the contract with us to repeat the information, but I realize that we are the ones who signed it. We are not sure if this was intentional on his part (for some unknown reason) or is he just careless. Either way, we have already scheduled ourselves and movers for the date that he verbally gave us and the one we agreed to. We will not be in town on the day that he put in the contract and we have no way of altering our plans. What do we do if the seller can't accomodate us? Are we stuck footing the bill for a bridge loan ? I feel that the realtor is the one who made the mistake and he should pay for the fees we would incure by doing this. What are our rights in this situation?
Toni

[JETX]

Originally Posted by tdh610

We will not be in town on the day that he put in the contract and we have no way of altering our plans. What do we do if the seller can't accomodate us? Are we stuck footing the bill for a bridge loan ? I feel that the realtor is the one who made the mistake and he should pay for the fees we would incure by doing this. What are our rights in this situation?

Your rights are to read the contract you sign and comply with it. Your agent is your agent.... and not a guarantor of your 'deal'.

[tdh610]

Hmmm....

Blunt and to the point. Guess you had to be there.

[Daniel M.]

Originally Posted by tdh610

Hmmm....

Blunt and to the point. Guess you had to be there.

Not terribly uncommon around here...

It would help if you put in the actual dates and explain about the need for the bridge loan (you're buying another home with these proceeds, closing on....?).

Presumably the date you are planning on is prior to the date in the contract, hence the bridge loan necessity. Many buyers don't mind closing a little early if they possibly can. I don't know how many days we are talking here but in all likelihood it might be cheaper to offer the buyer their costs of the early closing (if they do not agree to move it up without a financial incentive just for the asking) rather than paying for the costs of a bridge loan.

[PghREA]

The closing date can be changed with an addendum to the original contract as long as both you and the seller agree to the change and sign the addendum. If your Realtor can't be at the closing and he wants to be, have him send one of his buddies from his office or his manager.

[HomeGuru]

Talk to the principal broker.

[tdh610]

Thank you for the replys.

Just a re-cap: We are the buyers who have a contract with the date being 8-19-05. The date it was to be written for is 8-22-05. Our realtor has acknowledged that he is the one who put the wrong date in the contract and we are now waiting to hear if the seller can accomodate the 8-22-05 date. We certainly understand that this is not the seller's problem, it is our problem;we also know that the seller is in a very bad financial situation and needs the money from the sale of his home immediately. We have been approved to purchase the home without the sale of our home, but our home is sold and the buyers have signed a contract with us for 8-22-05. They will not be able to close at an earlier date. We feel that it would be ridiculous to have to get a bridge loan for one business day. We should know what will happen by 5 today and our realtor has assured us (this morning) that he will make it work. We'll see.

[HomeGuru]

This is a lesson learned. Next time READ the contract.