Closing in four days--Seller still showing apartment
I recently signed a contract for a Cobble Hill co-op unit. We are scheduled to close on Tuesday of next week. I just found out that even though we’re scheduled to close in 4 days, the seller has still not signed the contract (the “executed contract”). I was told that the seller will be signing…
I recently signed a contract for a Cobble Hill co-op unit. We are scheduled to close on Tuesday of next week. I just found out that even though we’re scheduled to close in 4 days, the seller has still not signed the contract (the “executed contract”). I was told that the seller will be signing the contract on Monday, the day before closing. I also just learned that the seller is having another open house this Sunday, just 2 days before we close.
I fully understand that a seller can and should continue to show his/her property until the buyer signs the contract, and for back-up offers, but in this case, I signed and returned the contract a while ago, and we’re supposed to be closing in a few days. Is this standard? Thank you.
Sorry, but I cannot believe you are that stupid. Do you realize why the seller is supposed to sign the contract Monday? It is so he can show it to prospective buyers on Sunday! To see if he can get a better offer. You are not the only one with all cash. You should forward this post to the bar association along with your attorneys information. Players as follows;
PROSPECTIVE BUYER-CLUELESS
CURRENT OWNER -SLEAZEBALL
BUYERS ATTORNEY -WORKING FOR SELLER?
The date of a closing can be changed as long as all parties agree.
You need to get this signed contract as soon as possible. At first I thought he had your deposit. but it sounds like he only has a paper check, which is virtually nothing. you are no different than those folks coming to the place for the open house.
You probably have the worst RE attorney in all of NY.
There is nothing matter of fact about this at all.
you should definitely get another atty. he will definitely miss something during the closing.
Good Luck.
I hope your money is held in an escrow account.
If your deposit is held in a personal account it is considered co-mingling and that is illegal.
Please read the back of your check carefully.
If the seller hasn’t cashed your check OR signed the contract, then he hasn’t accepted your offer. You are screwed. Your attorney should be disbarred if he thinks this is normal.
By the way, what is the basis for your conclusion that the closing is scheduled for Tuesday? It better be something more than that is the date typed-in on your unsigned contract.
Ps.
Where is your real estate lawyer?
Now is is not the time for him to be taking a nap.
He is supposed to be helping you.
The seller sounds like his ass is dancing at 2 weddings.
Nothing is valid until the seller signs the contract
.Sleazy behavior.
p.s. keep in mind that your threat to walk away may be viewed by the seller as a real threat (and therefore motivation to sign the damned contract). an all-cash deal and fast closing isn’t something most sellers will want to risk losing.
the seller is playing games with you, attempting to have their cake (by having a ready and able buyer locked up) and eat it too (by continuing to show the house and seek better offers). this approach has no benefit to you whatsoever, and it has a lot of risk. you should threaten to back out of the deal unless the contract is signed tomorrow. ask your lawyer why you shouldn’t make this threat; i’m curious to know his response.