Helpme2move
Junior Member
What is the name of your state (only U.S. law)? New York
Good afternoon everyone!
My apologies if this has been posted here already.
My situation:
I put an offer on a house back in August. The offer was accepted and the binder was signed immediately by the sellers. The process then moved to meeting with a real estate attorney and drafting the 'formal documents'. I had signed the formal documents on 8/21/2010 and the delaying started. The delaying occurred until I told my real estate attorney to inform their attorney that if contracts were not signed by xx/xx/xxxx date I was going to pull my offer. Given, the contracts were signed by the date I had provided.
Once the contracts were signed and sent to the banks the appraisal was completed by the bank, mortgage insurance was obtained, proof of home owner's insurance was obtained, title verification run, etc... I received "clear to close" from the bank.
Now on to the question, The Bank Attorney and my Attorney have been ready to close. We have contacted the sellers attorney and no call back. I've spoke to the Real Estate Agent and asked her to reach out to the sellers and she can't get them either. I find it difficult to believe that a Real Estate Attorney for the Sellers would ignore calls and emails at the request of his clients. It is my understanding per previous discussions that the Sellers were awaiting the completion of their new home and assume that as of this time they are not "move in ready". So... is it legal for the sellers to delay 'my closing' so that they can retain a residence until their 'new home' is ready to move into. There are no contingencies in the contract that related to them needing a mortgage on their new home, a Cert. of Occup., etc... so... what am I to do?
Everyone is ready and I do not think it is fair for someone who agreed to sell me their house to delay at my expense. The formal documents read, "On or around 9/30" for the closing date. I am aware I can file "Time of Essence" with my attorney. Why would the sellers be asked if a 'closing date' is okay if they have already agreed to sell the house. Why would the law leave this in their hands when they have signed that they want to sell?
Thanks for your help in advance.
Kindest regards,
BWhat is the name of your state (only U.S. law)?
Good afternoon everyone!
My apologies if this has been posted here already.
My situation:
I put an offer on a house back in August. The offer was accepted and the binder was signed immediately by the sellers. The process then moved to meeting with a real estate attorney and drafting the 'formal documents'. I had signed the formal documents on 8/21/2010 and the delaying started. The delaying occurred until I told my real estate attorney to inform their attorney that if contracts were not signed by xx/xx/xxxx date I was going to pull my offer. Given, the contracts were signed by the date I had provided.
Once the contracts were signed and sent to the banks the appraisal was completed by the bank, mortgage insurance was obtained, proof of home owner's insurance was obtained, title verification run, etc... I received "clear to close" from the bank.
Now on to the question, The Bank Attorney and my Attorney have been ready to close. We have contacted the sellers attorney and no call back. I've spoke to the Real Estate Agent and asked her to reach out to the sellers and she can't get them either. I find it difficult to believe that a Real Estate Attorney for the Sellers would ignore calls and emails at the request of his clients. It is my understanding per previous discussions that the Sellers were awaiting the completion of their new home and assume that as of this time they are not "move in ready". So... is it legal for the sellers to delay 'my closing' so that they can retain a residence until their 'new home' is ready to move into. There are no contingencies in the contract that related to them needing a mortgage on their new home, a Cert. of Occup., etc... so... what am I to do?
Everyone is ready and I do not think it is fair for someone who agreed to sell me their house to delay at my expense. The formal documents read, "On or around 9/30" for the closing date. I am aware I can file "Time of Essence" with my attorney. Why would the sellers be asked if a 'closing date' is okay if they have already agreed to sell the house. Why would the law leave this in their hands when they have signed that they want to sell?
Thanks for your help in advance.
Kindest regards,
BWhat is the name of your state (only U.S. law)?