Seller trying to pull out of deal at the last minute.

Asked by Frazzledinfl, Sarasota County, FL Wed Aug 10, 2011

I am buying a house and we have a contract that was signed back in the middle of July. The proposed closing date was 8/13, but it falls on a Saturday, so the title company set the closing for 8/15. One of the sellers is trying to back out of the deal by saying that we have to close on the business day prior to the original closing date of 8/13, or the contract will be invalid. Can they refuse to abide by the contract if we do not sign before the closing date, or do they have to extend it to the following business day when the closing falls on a weekend?

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7
Faye Doyle, Agent, Sarasota, FL
Wed Aug 10, 2011
BEST ANSWER
The closing date should have been verified when the contract was written but hindsight is 20/20. An option which may help you is to do a "dry closing" on the preceeding Friday. Sign all documents and just wait for the Monday funding. It is always easier to be gracious, have documents signed and have the moving van packed. Playing hardball for no reason will not get the transaction closed.
2 votes
Radinka Ilsi…, Agent, Lakewood Ranch, FL
Wed Aug 10, 2011
What type of contract was signed? The Residential for sale and Purchase states clearly on Paragraph 18 F. Time
what would happen in this situation. Refer to your contract and ask your agent to verify the information.
3 votes
Radinka Ilsi…, Agent, Lakewood Ranch, FL
Sat Aug 13, 2011
Yay! Congrats on your first home, how exciting! Obviously already a memorable experience for you :)
I wish you many happy years in your new home!
2 votes
Frazzledinfl, Home Buyer, Sarasota County, FL
Sat Aug 13, 2011
We ended up closing on 8/12, one day before the contracted closing date. The problem was that I had a hard time finding insurance, and was notified Thursday morning I needed to have insurance bound within an hour in order to close on Friday. The seller was refusing to follow through with the contract unless we closed early. It was a short sale, which made it even more complicated. I had no problem with closing early, it was just a matter of whether or not the paperwork could be pushed through fast enough. We got it all figured out and I am now a proud (first-time) homeowner. Thank you all for your responses.
1 vote
David White, , Sarasota, FL
Tue Aug 16, 2011
Glad it all worked out for you!
Congrats on your new home...
0 votes
Roy Barker Jr…, Agent, Pompano Beach, FL
Tue Aug 16, 2011
contgratulations on your new home. it is tough when parties are not willing to work things out easily and it seems like there is always a party involved like that. At the end of the day, alls well that ends well :O)
0 votes
John Juarez, Agent, Fremont, CA
Wed Aug 10, 2011
If you were using a standard California contract I could answer your question. So…why can’t your agent answer the question? The answer is most likely to be found in a careful reading of the contract or from law and precedent in Florida that your agent can describe to you.
0 votes
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