Home Selling in Flint>Question Details

dascott48507, Home Seller in Southfield, MI

I am selling home myself & working with buyer's agent. Close date stipulated in the P.A. has passed and I am not going to extend the contract. I

Asked by dascott48507, Southfield, MI Tue Jul 16, 2013

I assume I should send a letter to the buyer/agent. How should this be worded?

Help the community by answering this question:


If the closing date has passed, you are out of contract The buyer has no contractual obligation to agree to an extension and may "walk" is the so desire.....

Contract extensions must executed prior to the date that defines them.

Good luck,

0 votes Thank Flag Link Tue Jul 16, 2013

Extending a closing date is a fairly common practice, issues do arise on many deals. You did not mention the reason for the closing date passing, but you should try and work out a reasonable solution with the current buyer.

Starting over with another buyer is not going to guarantee you any smoother of a deal, so why not deal with a bird in hand?

If you want to elaborate on the reason, we may be able to give you a better resolution for your issue. But if you desire to cancel the deal, wording a cancellation addendum can be found online I am sure, or pay a local Realtor to draw one up for you. But be warned there may be repercussions with you canceling the transaction with the buyer and the agent.

Good Luck,

(248) 379-6547
0 votes Thank Flag Link Tue Jul 16, 2013
You should work with a Listing agent to get your home sold and deal with time lines. Why wouldn't you extend the contract? Everything Ron has said below is correct.
0 votes Thank Flag Link Tue Jul 16, 2013
I am mystified by what you are trying to do:
Did you want to sell your house or not?
Are you reveling in the Control?
You do realize that you may owe a commission to that Buyer's Agent?
How do you propose to find another Buyer?
0 votes Thank Flag Link Tue Jul 16, 2013
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