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Your "on or about" closing date...

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LIBOUND
Texting king

Member since 10/05

5289 total posts

Name:
Suzy

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!!

Posted 1/4/06 10:54 AM
 
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DjPiLL

Member since 5/05

3664 total posts

Name:
Richard

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

Posted by LIBOUND

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!!




It can happen practically ANY TIME from that date. Some people will get it right around that date. Some will get it a few weeks later. Some people have been delayed for months. Some closed a few weeks before.

There really isn't any way to know.

Posted 1/4/06 11:07 AM
 

Tanaholic
My Big Boy!

Member since 10/05

2383 total posts

Name:

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.

Posted 1/4/06 11:15 AM
 

Redhead
You Live, You Learn

Member since 5/05

31871 total posts

Name:
Jennifer

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

Posted 1/4/06 11:27 AM
 

eroxgirl
My Loves

Member since 5/05

15697 total posts

Name:
Rebecca

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.

Posted 1/4/06 12:56 PM
 

Tah-wee-ZAH
Kisses

Member since 5/05

15952 total posts

Name:

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.

Posted 1/4/06 1:42 PM
 

DRMom
Two in Blue

Member since 5/05

20223 total posts

Name:
Melissa

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)

Posted 1/4/06 1:54 PM
 

Laura1976

Member since 5/05

5754 total posts

Name:
Laura

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

Posted 1/4/06 1:56 PM
 

MissJones
I need a nap!

Member since 5/05

22134 total posts

Name:

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. Chat Icon

Posted 1/4/06 5:50 PM
 

dottiemchugh
<3

Member since 5/05

8261 total posts

Name:

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

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

Posted 1/4/06 11:42 PM
 

Redhead
You Live, You Learn

Member since 5/05

31871 total posts

Name:
Jennifer

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

Posted by melijane

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)


eh?
I was told by my lawyer that you are in fact, as the seller, allowed a 30 day extension
So if contracts were signed on dec 1st...closing can be Jan 1st OR IF THE SELLER CHOOSES...can extend to up to 30 days..

Posted 1/5/06 3:58 AM
 

raken40
soooo in love:)

Member since 5/05

4369 total posts

Name:
Karen

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" dateChat Icon

Posted 1/5/06 6:41 AM
 

PiyoPika566
talk to the hand

Member since 5/05

1436 total posts

Name:
Stephanie

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 Chat Icon

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

Posted 1/5/06 7:06 AM
 

my3bugs
Mom of 2 Boys

Member since 5/05

4381 total posts

Name:

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.

Posted 1/5/06 9:26 AM
 

LSP2005
Bunny kisses are so cute!

Member since 5/05

19457 total posts

Name:
L

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.

Posted 1/5/06 10:46 AM
 

KaRiSsA
~*~*~*~*~*~*~

Member since 5/05

4646 total posts

Name:
KARISSA

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

1 /12 months later!Chat Icon

Posted 1/5/06 12:21 PM
 

DRMom
Two in Blue

Member since 5/05

20223 total posts

Name:
Melissa

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.

Posted 1/5/06 2:25 PM
 

Gertyrae
Peace out Homies!

Member since 5/05

20046 total posts

Name:
Gerty ®

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".

Posted 1/5/06 11:37 PM
 
 

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