What is the Standard Time for Seller to Return Signed Contract?
I am buying (hopefully) a house, and I signed the contract over 3 weeks ago. I am still waiting for the seller to sign and return the executed contract. Lawyers say it’s delayed because of seller’s vacation, holidays, etc. What’s the normal turn around for a countersigned contract from the seller? Thank you in advance.
I am buying (hopefully) a house, and I signed the contract over 3 weeks ago. I am still waiting for the seller to sign and return the executed contract. Lawyers say it’s delayed because of seller’s vacation, holidays, etc. What’s the normal turn around for a countersigned contract from the seller? Thank you in advance.
Holidays are no excuse. When we bought our house we closed 2 days before Christmas. These people are making big money on this deal, all of them, they will MAKE the time for it any time of the year, trust all of us who are saying that.
You’re being jerked around. Give a deadline of 48 hours and say you’ll walk away, and tell the lawyer he makes this happen or he’ll be fired for not fulfilling his fiduciary responsibilities and you won’t owe him a dime. This attorney is your employee. He works for you, OP. Not the other way around.
Meanwhile, HEY BROKERS AND ATTORNEYS:
The bubble is over thus your lazy free ride is over. Do the work!
It’s ridiculous. This is the 2nd time in a week someone has posted on Forum about an attorney basically outright refusing to perform the most basic part of the job for their clients.
Agree with others who say your lawyer should be pressing harder, and that you should ask him/her to give them a deadline. You don’t have to be nasty, just give them a date. Good luck!
If this is a house you want there’s no point in just withdrawing your offer. I would give them a very short deadline. Aside from the sellers jerking you around, it seems that your lawyer is not giving you his/her all either – s/he should not just be “relaying info” but should be advising you on what to do and should already have suggested giving a deadline. if the contract does get signed I would consider switching lawyers.
I was in a similar situation where I signed a contract after winning a highest and best and waited and waited and waited for the sellers to sign. Eventually they decided not to sign – after about a month of devastating waiting. We requested that they repay us the cost of the inspection, which they did.
The proper time frame is: long enough for their attorney to fedex the contract to them, them to sign immediately, fedex it back to their lawyer, and for their lawyer to glance at it, deposit your check in his or her escrow account, and fedex it back to your lawyer. You should have had your signed contract in hand to celebrate with your new year’s eve toast.
I’d have my attorney withdraw my offer immediately. You could go the route of giving them a deadline to get you the signed contract, but do you really want to get locked into a contract with someone who can (and likely will) continue jerking you around in many ways before you finally (if ever) close? I wouldn’t.
Yes, on Monday I’d call my lawyer with a deadline firmly in mind (say, Tuesday at noon), and if your lawyer is not responsive, leave a msg. saying you’re going to call the seller’s lawyer on your own and impose a deadline. Unfortunately you need to play hardball at this point, holidays or not.
The holidays are no excuse! And not if it’s over 3 weeks. No one who is serious about buying or selling a specific property lets it go that long, no matter what the holiday. Maybe they’re trying to get one of the Wall St. bonus buyers after the New Year.
It’s very fishy. I don’t buy the excuse of holidays and vacations and all that hoohah. Even if you’re a big-time real estate wheelerdealer, having a partially executed contract and an escrow check in hand is a big deal, or at least big enough that you would take advantage of global Fedex and get the job done from your poolside chaise or whatever. Give them a hard deadline and let them know you are ready to walk away, and keep looking for another place so that you’re prepared if it comes to that.
Hello Seller (2:41). This happened to me… start looking for another place just in case they back out. My seller backed out about 4 weeks after I signed the K.
3 weeks ago was the friday before Christmas. Many people leave town (even leave the country) through New Years or later. Some holiday through the feast of the epiphany. Maybe their lawyer is backed up too. Don’t assume you are being “royally screwed” or “jerked around”. This isn’t like any other 3 weeks of the year.