Your "on or about" closing date...

What was the actual date compared to the date on your contract?

Ours says "on or about April 3rd" but I'm wondering how much sooner or later it can actually be, and when do you get the actual confirmed date for the closing?

TIA!!

Re: Your "on or about" closing date...

Re: Your "on or about" closing date...

I worked for a real estate attorney a couple of years ago, and the on or about menas 30 days before or after that date listed. You usually get yor exact date about a week before.

Re: Your "on or about" closing date...

We are clsing on my condo
I am the seller and chose to take the 30 extension

So it is about 30 days from the date on the contract

Re: Your "on or about" closing date...

Our closing date on the contract was December 15 and we closed 2 months later because we had a few issues come up at the end. My girlfriend just closed within a week of the on or about date on her contract so it really could be any time.

Re: Your "on or about" closing date...

For my sale it was 30 days after. That's why we asked for a closing date that was one week after they signed the contract. We wanted out quick.

For my purchase it took a little longer about 45 days which was fine with us because we had to line up our sale.

Re: Your "on or about" closing date...

This is what I do for a living. The language in NY real estate contracts means 30 days from your on or about date. So April 30th would be May 30th. If you don't close May 30th your attorney can send a "time is of the essence letter" This basically puts the other party on warning that if they don't close soon you are ready to seek legal action(this usually doesn't happen but it is a way to get things moving forward)

Re: Your "on or about" closing date...

we were almost 2 weeks past our closing date and we didn't finalize that date until 4 days before

Re: Your "on or about" closing date...

Our on/about date originally was September 26, then it was changed to October 26th with a 'grace period' of 30 days being as close to November 26th. They wanted to close Nov. 16th, but we couldn't do it so we closed on Nov. 10th and let them stay another week and a half anf FINALLY moved on Nov. 21st.

Re: Your "on or about" closing date...

Our "on or about" date was January 3 and we will be closing on January 12.

Re: Your "on or about" closing date...

Re: Your "on or about" closing date...

our actual closing date after being changed 4 times was about 4 weeks after our "on or about" date

Re: Your "on or about" closing date...

our actual closing date was 7 days after our "on or about date" the sellers were very eager to sell the house since it was already vacant and set the "on or abou date" at only 4 weeks after the contract was initially drawn up.

Technically, you have up to 30 days after the "on or about date" in your contract.

ETA: typos

Message edited 1/5/2006 7:10:13 AM.

Re: Your "on or about" closing date...

Mine was on or about June 1st and we closed last week in May - so we finished up everything sooner than planned.

Re: Your "on or about" closing date...

we put a time of the escence clause into the contract so our closing date was 10/28 and that was it. It was one of our sticking points.

Re: Your "on or about" closing date...

1 /12 months later!

Re: Your "on or about" closing date...

Red:
From everything I know and I deal with this every day that is incorrect.
On or about Dec 1st
Should close by jan 1st. The buyer and seller can work out an extension but you only have that one 30 day period. Then time is of the essence comes into play if either party is unhappy with how things are moving along.

Re: Your "on or about" closing date...

Totally depends on the sellers and buyers. In our case we both wanted the deal done, so as soon as our mortgage went through we closed. It was three weeks after the contract date and two weeks before our "on or about".