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Asked by Smart, Bristol, PA Wed Sep 19, 2012

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Answers

9
Joshua Stein, Agent, Conshohocken, PA
Wed Sep 19, 2012
BEST ANSWER
Your agent should be dealing with this on your behalf and the SELLER'S agent should have been assisting with obtaining the U&O. There are people who's job it is to make sure the transaction remains on track to close on the scheduled date. Sometimes, changes do need to be made to closing dates for a variety of reasons. You have 10 days remaining. Get the agents involved and this issue may still resolve itself.
1 vote
Pat & Steve…, Agent, Westlake, OH
Wed Sep 19, 2012
I suggest that you work with your Buyer's Agent for assistance on this. You can ask the Seller to pay for the storage of your furniture and payment for you to stay in a hotel for extension period.
2 votes
R. Eric Axel…, Agent, Cherry Hill, NJ
Wed Sep 19, 2012
Do you mean 9/28 or 11/14? If so, yes, the Seller is bound by that date. That said, you have options.

1. You could threaten to not sign an extension and say you have a backup house identified and are willing to walk.

2. You could consider putting your belongings into storage and stay at an extended-stay hotel for 1 month (about $1,000) and have the Seller reimburse you for both.

3. You could opt to pay for repairs and U&O yourself and get reimbursed at settlement.

Obviously with items 2 & 3, get estimates beforehand and have your agent draw up an Addendum and get the Seller to sign agreeing to give you a credit at Settlement.

Good luck to you.
1 vote
Robert Loftis, Agent, Media, PA
Sun Dec 16, 2012
If the date does not work for you , just say no. You should also ask why they need a longer time frame. If there is not a very good reason, and the date does not work for you, just say no. The seller would be out of contract by not being able to close on the original date. In this market, sellers should be happy they have a buyer able to close.
0 votes
Smart, Home Buyer, Bristol, PA
Wed Sep 19, 2012
9/28 is what we signed on for the closing date - seller wants to move it to 10/14. Thank you all for your answers - especially Josh & Eric - sure wish I would have gotten you as agents instead of my current one! After reading your answers and researching myself + contacting a lawyer for advice (he echoed both of your words), I find it insane that my agent keeps sidestepping in not making me aware of my rights as a buyer, even when directly asked. I have now had to stand up to HER and let her know that I know my options and have been made aware of the law - should have been vice-versa in my opinion.
0 votes
Sharon Sapp, Agent, Reading, PA
Wed Sep 19, 2012
What does your Realtor say (I'm assuming you have a buyer's agent?). They are the ones that are your representative in PA. He/she and their broker along with the listing agent and his/her broker may be able to come up with a creative solution that works for all parties. I'd do it fast, though, since your closing date by contract is next week.
0 votes
, ,
Wed Sep 19, 2012
Good morning,

Unfortunately closing dates are often fluid. All parties have to coordinate based on lifestyles and schedules. Two weeks (I'm assuming you mean 11/14) after the proposed closing date isn't so terrible to request.

Not sure if you are using an Attorney (here in New York ALL deals are done with Attorneys) so not sure who you can speak to about the legal issues involved with extending the closing date (and PUSHING the Seller to close).

October 28th is a long way off so why can't your Realtors (and/or Attorney) PUSH the Seller to honor the proposed closing date?

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528
0 votes
Smart, Home Buyer, Bristol, PA
Wed Sep 19, 2012
Whoops - closing is supposed to be 9/28 - seller wants to change to 10/14. Dilemma is we CAN'T extend our lease - landord says no. No family/friends to stay with. Only option for us if the date is changed is to put our things in storage and stay in a hotel until closing. With 3 children, 1 whom is autistic (AND I homeschool all 3 using much equipment), a dog, 2 cats and other pets a hotel is just NOT an option. Not to mention the only way to pay for all of that I would have to use the money I set aside for closing - again, not an option. I understand trying to compromise but it's not due to the seller not having a place to move to (estate sale, home is empty) or any other financial hardship - only that he has dragged his feet with every step of the process - taking a week to 10 days each time to even respond to ammendments. If he is legally bound (as we are) to make settlement by the time we both agreed upon, I NEED that to happen. If there were any other options I would consider them - there just aren't.
0 votes
Sharon Sapp, Agent, Reading, PA
Wed Sep 19, 2012
I'm assuming you mean the seller wants to change the agreement to 11/14, not 10/14. Yes, you are both bound by the signed agreement. To change anything in that agreement, you both must agree. Perhaps your landlord will give you a month extension and you can ask the seller to pay that if they want more time. You need the U&O to be complete before you move in so you're dealing with 2 schedules - the seller's and the inspector Try to work out something that is mutually satisfactory. It makes the deal go much smoother when you both are willing to work together. .
0 votes
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