All Forum Posts by: Ramon Torres

Aloha,

Do you have an Agent, or are you handling the purchase on your own? If you do have an Agent, they should have taken the time to explain the closing process and timelines, based on your specific contract. There are typically a number of variables, including days for inspections, days for loan approvals, and other contingencies, but this is something that should have been accounted for when writing the offer. "Time is of the essence" is a common phrase that is included with identification of a closing date. Of course, local laws may differ... What is your plan if Seller's new purchase falls through or has further delay?

Thanks man i will be contacting my agent or my attorney because i need more answers like you mention what if seller purchase is delayed. I feel like everyone is just working with Seller conviene and not buyer(me)

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Quote from @Matt Devincenzo:

Well absent anything else it sounds like you potentially have a closing date 45 days from the original contract execution.

Yea i was told that there is an additional 30 days grace period here in New York. It just bothers me that Seller don’t wanna sell yet because her purchase hasn’t close yet. Thanks in advance

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Quote from @Matt Devincenzo:

What does your contract say? It should already have a closing date set, so that is the date you're closing. If she refuses then you could potentially pursue her for damages e.g. any costs incurred in buying. But before you get there I'd try to get a better understanding of what she's looking for as it sounds like she is buying and will close, she's just being difficult with scheduling it because she's not sure when her purchase transaction will close.

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This is what the contract says.

Closing Date and Place. Closing shall take place at the office of Seller's attorney at TBD
o'clock on or about 45 days of contract

or, upon reasonable notice (by telephone or otherwise) by Purchaser, at the office of Lender's Counsel, in Nassau or Western Suffolk only.

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Hi. I'm in the process of buying a home and got clear to go from the bank but the seller doesn't want to set up a closing date because she is buying elsewhere. What do i do ?

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Quote from @Clayton Silva:

Quote from @Ramon Torres:

Quote from @Clayton Silva:

So, if I hear you correctly, you sent in a deposit for Earnest money to the attorney's office? Or did you send the actual down payment? Either way you should be receiving that back from the attorney if the contract is broken by the seller.

Yes thank you for your help. my whole question is why not sign after i did everything they asked for. What if now she comes back saying she’s not selling anymore. What about my time, my check and my inspection money. This is what the The attorney said.

”Yes unfortunately that’s part of the process. It isn’t very fair to buyers”

Exactly correct, that is part of the process. I would generally never pay for inspections or start the process without a signed contract. Were you working with a realtor? Because if so, you may want to look for a new one, they should have 100% advised not starting anything without a signed contract.

The realtor advised me to do inspection as soon as possible that the seller was going to sign afterwords but seller does not do so

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Quote from @Clayton Silva:

”Yes unfortunately that’s part of the process. It isn’t very fair to buyers”

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Quote from @Winston Covington:

Hi Ramon, my first recommendation is an obvious one...never do anything in Real Estate without proper representation. My 2nd recommendation is to find a good Attorney who specializes in Real Estate to help you resolve this problem. Remember that " In God we trust " with everyone else...get it in writing. Good luck and keep us informed.

Everything was going good seller wanted to see money before she signs contract because there was a lot of offers and mine was the highest. But now she’s on hold because she’s waiting to buy her home because she is moving out of state. The attorney said.

”Yes unfortunately that’s part of the process. It isn’t very fair to buyers”

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Seller wanted me to sign contract and wanted me to deposit the downpayment check to her attorney and now she doesn’t want to sign contract. i did everything from my part. Now she doesn’t want to sign because out of no where she is waiting to buy a house elsewhere and i already did my inspection. What do i do ? Please help

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All Forum Posts by: Ramon Torres

Ramon Torres has started 2 posts and replied 9 times.

Post: Under contract and Seller don’t want to close

Post: Under contract and Seller don’t want to close

Post: Under contract and Seller don’t want to close

Post: Under contract and Seller don’t want to close

Post: Under contract and Seller don’t want to close

Post: Buying a Home

Post: Buying a Home

Post: Buying a Home

Post: Buying a Home