Closing date postponement

We were told a closing date of Friday august 22nd about a month ago

The sellers actually wanted the 15th but our real estate agent would be on vacation and she really wanted to be there for the walk through so we didn't care waiting another week

I just got a message from out lawyer,sellers not ready to close. He had no more info when I asked what this meant or how long

What does this mean? Could it take months? Is there a time frame they can't go past

Am I supposed to push a date or sit back and wait



Also wanted to add we were told to get out homeowners insurance start from august 20th so I'm paying for nothing now?

Message edited 8/19/2014 7:18:53 PM.

Closing date postponement

In your contract there should be an on orbabout date for
Closing and it should also have a time frame it can't exceed, typically 30 days. So if your closing is say august 15 it can be 30 days before or after. Closing are always a pain in the ass and get delayed ugh you're Attorney should be getting you this info and make sure they are on top of it!!

Message edited 8/19/2014 7:36:46 PM.

Re: Closing date postponement

Re: Closing date postponement

Tell homeowners insurance you arent closing on the 20th and you will let them know the date when you get it.

Re: Closing date postponement

This is typical.

I think our closing got delayed twice.

Yeah, like Ave said, just let the HO insurance know and date can be changed.

Closing date postponement

Ours was delayed also with no good reason, we even gave the seller extra time in the contract. We ended up closing at the 30 day mark of the "closing date". Our seller was a biotch.

Just call the Homeowners Insurance and tell them of the delay and they will redate your policy. Good luck.

Closing date postponement

Totally normal. There is a date in the contract. It's an on or about date. You cannot do anything legally for 30 days past that date and then you send a time is of the essence letter which basically gives another 30 days.

Re: Closing date postponement

Agree with everyone else. The sellers have 30 days from the on or about date in your contract to close. After that, there is typically penalties for the party holding it up.

As for your homeowners, just call your agent and let them know. They can change the date, though you may have to do some paperwork for that.

Good luck!

Closing date postponement

Our homeowners were dragging their feet as well and I was about to lose out interest rate. We closed and then took possession about 10 days later. They had to pay us a pro rated amount for staying in the house