What is the name of your state?Florida
At this point this question is for future references.
By statute, is a seller required to extend a real estate purchase contract closing date if the expiration date falls on a weekend or national holiday?? This was not a standard far-bar contract. It was drawn up by the purchaser and he filled in the date which was a national holiday. It was a very simple 1 1/2 page. There was nothing in the contract about extending even due to force majeure. or time is of the essence etc.
One answer I found was that it had to be extended to the next business day but I could not find any Florida statutes that required this.
More details.
I am the seller, the buyer was a wholesaler who swore he had investors etc and was willing to put up earnest money with no contingencies. I missed that the earnest money was being deposited, "anytime before closing" and since we didn't close, oh well. A week before the expiration date, 9/2/2024, he finds a buyer but they needed more time for inspections etc and asked to extend to 9/20/2024. There were other reasons I didn't want to deal with this wholesaler anymore but I was not going to give him more time with inspection contingencies on his contract that could have fallen through. Then his buyer claimed they could close on 9/3, since the 2nd was a holiday, they expected me to extend. I told them no. The issue was not pushed and the deal fell apart. BUT by law, was I obligated to extend?
At this point this question is for future references.
By statute, is a seller required to extend a real estate purchase contract closing date if the expiration date falls on a weekend or national holiday?? This was not a standard far-bar contract. It was drawn up by the purchaser and he filled in the date which was a national holiday. It was a very simple 1 1/2 page. There was nothing in the contract about extending even due to force majeure. or time is of the essence etc.
One answer I found was that it had to be extended to the next business day but I could not find any Florida statutes that required this.
More details.
I am the seller, the buyer was a wholesaler who swore he had investors etc and was willing to put up earnest money with no contingencies. I missed that the earnest money was being deposited, "anytime before closing" and since we didn't close, oh well. A week before the expiration date, 9/2/2024, he finds a buyer but they needed more time for inspections etc and asked to extend to 9/20/2024. There were other reasons I didn't want to deal with this wholesaler anymore but I was not going to give him more time with inspection contingencies on his contract that could have fallen through. Then his buyer claimed they could close on 9/3, since the 2nd was a holiday, they expected me to extend. I told them no. The issue was not pushed and the deal fell apart. BUT by law, was I obligated to extend?
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