Ok, let's take a deep breath, I undestand that having a 15 months old and being in this situation is stressful.... But nevertheless there is a contract on both ends of your deals, one for the home you own and you currently still live in, and the new home you are buying....
Now I am assuming that you did have an Realtor working with you for both ends of the deal, as well as
a good real estate attorney, and they hopefully put in the contract good terms related to the home sale contingency.... I feel and of course I do not have any of the contracts in front of me, that your home sale contingency is related to the the purchase of your NEW home, i.e. you cannot close on the new home
unless you sell your old home, to which the owners of your new home seem to have agreed to and even if they have there should be a time period in the contract, when that is reached and the owners of your
new home find another buyer, they will give you the chance to remove the home sale contingency or
THEY CAN TAKE THE NEW BUYERS!!!!!!
As far as your sales contract with your buyers goes, there should have been terms involved that
indicate what happens if at the date of closing you cannot be out of the home, which would mean you
would offer your buyers to pay for let's say renting a temporary place, store their furniture, in other words you basically rent back from them your current home, until you move out and they can move in.
It is my impression that you have not been fully educated about the various terms and problems that
But remember we do not have the terms in front of us, go and sit down with your real estate attorney
and try to figure out what you can do at this time, to save the current buyers for your current home for
the next 20 days, there should be a way, but it will be financial and your buyers will have to agree!
Hope this helps
Good Luck to you
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)
Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
Check out my website at http://tinyurl.com/YourRealtor4Life
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
HAVE THE MOST WONDERFUL DAY :)