If you are talking about the sale contract on the purchase/sale of a property, usually the date specified
in the sales contract states on or before a certain date..... but what if there is a delay in the buyer getting his loan approved.... and if there are 2 attorneys involved they are not always available becaue of court dates etc. More often than not, have I seen a closing date being moved just because whatever date was agreed upon at one point cannot be kept by some circumstance. usually it is only a few days or a week, unless the lender needs a bit more time. And then the parties of the sale will agree to move the date by mutual agreement.
Now when you have a signed sales contract between a Seller and a Buyer, that is between the
Buyer and the seller, and the Realtors on both sides where party to the negotiations of the finally agreed upon sale price and terms, but the contract itself is between the buying and selling party.
Certain terms and times/dates have to be kept for inspection etc. and then loan commitment letter and other and then yes there is a date in the contract which all parties will attempt to keep, but
could be changed if need be.
If you are the seller you want the money at the closing table and if you are the buyer you still want to
buy the home what are a few days earlier or later, usually not a big problem
And to you question assuming YOU are the seller, yes you owe the total amount of commission
at the closing table out of the proceeds of the sale...... You had a listing agreement in writing with
the listing agent and his or her Brokerage.....
Hope this helps you a little.....
Unless I do not have all the information for your specific case.
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
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