@aplk...all dates should run concurrent with the time to complete attorney review so usually your second deposit won't be due till the conclusion of AR no matter how long that takes. I can't imagine your agent or attorney even expect it to be paid till then.
Speak to your attorney.
My bigger concern is why its taken so long to conclude. Please also speak to your attorney to see if he's been in contact with the sellers attorney to determine why its so long.
Please excuse typos-sent from my Android
My concern is why the delay in attorney reviews? What questions are causing a delay in the process? Your attorney should be responding to your inquires. This is your home purchase and the attorney works for you, by all means call 5 times a day until your questions are answered.
If you look to withdraw your offer due to the deposit, it seems to me that you are really not interested in this house. During the attorney review period you may withdraw your offer at any time, In todays market I would bet the attorney would charge something for his/her time for work that has been done.
So, break chops.. make calls, get copies of what is going on in the attorney review process, you need to be informed of what is happening this is YOUR home purchase.
I haven't worked in New Jersey but know that attorneys there have inserted themselves into a process that doesn't really require them (imagine that).
If it's your attorney who isn't on the ball, fire them today (and by all means don't pay them). If it's the Sellers attorney then have your attorney draft an amendment to the contract stipulating that the balance is due only when the Sellers either completes their attorney review or waives it.
Get your agent involved that's what their there for and they have a financial stake (the commission) in seeing the deal get consummated.
If you're having second thoughts about the house then terminate., otherwise stop waiting passively for things to happen, start making demands of your attorney and Realtor to get their butts in gear and get it done or you'll terminate the offer and find others who are more professional and can get the job done.
.Quite honestly, your attorney should be in touch with the sellers attorney....Express all your concerns...Is the seller still letting the property be shown. Is there a back up offer on this property? Sometimes that can be a red flag...(or it could be just because it is the holiday season) and the sellers attorney may be dragging their feet..Not quite professional however.......Your attorney can always send a kill letter making the contract non binding.. However you need much more info....I think your need a heart to heart chat with your attorney ASAP..This is difficult to advise since there can be so many different components to a contract.. Please let us know how this turned out..
Good luck to you...Diane. Agent. 732 859 2376
My recommendation is that you ask your Attorney what your options are at this point.
David Fialk, REALTOR
Choice Realty Co.