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cmguiller1, Home Seller in Williamson, NY

We are selling our house in Williamson, NY. The agreement we signed in was to have a closing date on Sept. 30, 2013, or earlier because the buyers are

Asked by cmguiller1, Williamson, NY Thu Oct 3, 2013

The buyers are paying cash and the house is empty. We also sold a parcel of land to our next door neighbor. His lawyers had all the new survey in 2 weeks time. Our lawyers sent the abstract and papers for ours to sign on Sept.30, and we had it notarized here in Atlanta and sent it thru UPS and they received it Oct. 1st.. Now we are waiting for the closing on Friday pm Oct.4
Our Lawyers said the delay was due to the Abstract. We signed the agreement on Aug.27.
What are your recourse on this kind of lawyers. You are charged for everyday that your mortgage is after the end of the month. This lawyer has been recommended by our real estate agent.. How long does it take to get an abstract?

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Gail Gladstone’s answer
I am a bit confused. It is generally the buyer side that calls for the abstract (title), not the seller's attorney.

Title searches generally take about two weeks or so and a little time to be "read."

Yes, you will have to pay the amount due on your mortgage up until closing day. This kind of thing (delays) happen all the time and if you are looking to point fingers, there is no specific person you can point at.
0 votes Thank Flag Link Thu Oct 3, 2013
Thank you!
Flag Thu Oct 3, 2013
I'm sure your agent can ask those questions too, although it sounds like all is going to plan.

Abstracts depend on a lot of varying factors. Did you have existing abstract, or did they have to recreate it? Were there any title issues w/past owners? Were there lot line discrepencies, or encroachments? etc, etc.

Closing dates are target dates, you seem to be closing within a reasonable amount of time. Also, closings need to be coordinated with the buyer, their attorney, your attorney and sometimes a bank attorney.

Good luck and I hope all goes without a hitch tomorrow.

Carla Rosati
Remax Realty Group
0 votes Thank Flag Link Thu Oct 3, 2013
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