What can you do if sellers ignore the contracted closing date? The first date was disregarded and I only found out 36 hours before closing. The

Asked by daisytoulouse, Bozeman, MT Sun Apr 27, 2014

sellers realtor never notified mine (I found out directly from the seller). I am going to lose my rate of we don't close by the new contracted date (3 days from now) and don't know when we will close. I see no movement of the seller towards contracted repairs.

(My realtor also made a mistake on the addendum asking for repairs and now I'm stuck with the repair he left off.)

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Dennis Erickson’s answer
Dennis Erick…, Agent, Bozeman, MT
Mon Jun 2, 2014
Daisy, I'm afraid you won't like my answer much, but it might help you out.
First, your Realtor should have let you know the contract was out of date. Period. No Excuse! Second, you should have read the contract and known the date also. You should have also read the addendum asking for repairs and noted the missing items. I assume you signed the addendum and the Buy Sell agreement? OK, your Realtor messed up. Let's go with that. First, get the contract back in date by using an amendment which your Realtor should prepare. Have it signed by yourself and the seller and have it reflect a hard closing date. If the seller isn't making repairs, include a dollar amount on the amendment that will be paid to you in lieu of him doing repairs, there's a good chance he's broke and can't afford to make the repairs, something your Realtor should have foreseen and accounted for in the agreement to buy and sell.

Lessons here? First, get another Realtor. Sorry, but these are basic items yours missed. Second, don't assume you don't have some responsibility to read your agreements and understand them. This is serious business and you have to take responsibility for understanding what you're doing even when you have attorneys or Realtors or.... (name someone here) who are involved in the transaction.

Good luck.
0 votes
Dan Tabit, Agent, Issaquah, WA
Sun Apr 27, 2014
Daisy,
That's a tough one. More commonly it's the buyers who miss the closing date due to financing issues. Your agent needs to determine what is going on and why. If they are non-responsive at all, a "Notice to Perform" should go out with the appropriate level of seriousness. If there are costs associated with delays, you may want the seller to pay them.
If your agent is not helpful, either ask for their managing broker or get an attorney involved.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Sun Apr 27, 2014
You can ask the closing company or attorney to escrow funds for repairs at closing so you can have them done with that escrowed money (money set aside from the sellers proceeds) . Sounds like you have a mess, best to get your agent on it to fix it. If the agent asked for repairs YOU had to sign it so take some of the blame yourself.
0 votes
Terri Vellios, Agent, Campbell, CA
Sun Apr 27, 2014
Your purchase contract states what your options are. Please read it. I'm not familiar with the contract and laws in your state. You can ask the Broker to review the offer and give you your options, or if you use an attorney discuss this with them.
0 votes
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