Delayed closing question

[minnime]

What happens with a delayed closing? Does the contract get submitted for ROFR right away. After that passes (hopefully) when does the buyer submit their funds? I guess I would like to know how far along it goes while waiting for the closing date to occur.

 

[Sandisw]

Yes, the contract goes to ROFR right away. I have sold two contracts with delayed closing. The closing documents were sent much closer to the actual closing date. Since I was the selleranf. Ot buyer, I can't answer about money but there would be no need to send until closer to the delayed closing date. Ours was delayed due to trips and the day we checked out, the title company closed the deal.

 

[gatorgirl02]

I have purchased where I have asked for a delayed closing, and here is how it went for me:
- Contract went immediately to ROFR
- The closing docs were sent closer to the date I asked for the closing, not when ready
- The seller already had their docs in, so once I sent my check, it went a little quicker, then having to wait for a seller

Hopefully that answers your questions

 

[minnime]

Thank you for this info. First time for everything and it is stressful.