I am a buyer in contract to purchase a property. The expected closing date in the contract has come and gone,

Anthony
Home Buyer
New York, NY

and the seller is still not ready to close. Can I back out of the contract at this point?

Answers (6)
Anna Brocco
Broker
Williston Park, NY

Refer your question to your attorney and follow his advice.

Anna
917-576-5376
abrocco@laffey.com

Wed Apr 8 2009, 09:45
Everett Perry
Agent
Queens, NY

Have your atty send them a time of the essense. If they dont respond or close it then you are good to go, its literally as simple as that.

Web Reference: http://www.uvpinc.net
Tue Apr 7 2009, 16:16
Bob & Richelle...
Agent
Bethel, CT

Hi Anthony,

We're not sure, but the time between when you were supposed to close and now is a long time. The best answer we can give you is to contact your attorney directly. You are paying him to represent you in your purchase of a home and he'll know how to legally proceed.

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
cell - 203 470-9818

Tue Apr 7 2009, 14:15
Anthony
Home Buyer
New York, NY

Thank you for all your answers.

The closing date was supposed to be Feb 24th, and it is April 7th now. So, what kind of date range does "on or around" clause cover, before the seller becomes in breach of the contract?

Tue Apr 7 2009, 13:16
Bob & Richelle...
Agent
Bethel, CT

Hi Anthony,

In New York, the closing date in the contract is typically described as "on or around". Your seller may not be in breach of contract if this verbiage is in your contract. We suggest that you ask your attorney if you can back out and use the seller's not being ready to close as the reason. If you are not able to cancel the contract, then ask your attorney's advice on how to get the seller to perform (sell his home to you).

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
cell - 203 470-9818

Tue Apr 7 2009, 13:11
Sam DeBord - Se...
Broker
Seattle, WA
FIRST ANSWER

First, there are a lot of factors we don't know about here, so you need to talk to your agent (hopefully you have one - this kind of situation is exactly why people need to use an agent).

As a general rule, if the seller is in breach of contract, you can back out and get your earnest money returned. There are far too many other possibilities in your situation that we haven't covered, though.

Web Reference: http://SeattleHome.com
Tue Apr 7 2009, 13:09

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