Delayed Closing - when to pay?

[MinBz]

I (buyer) just received the closing documents for the contract that initially started in September. It’s a delayed closing and can not close before the end of March. It doesn’t say when to wire the amount that’s due by the buyer. I know if I do it now it will be held in escrow until closing. It’s my First resale contract so wasn’t sure if I should wait until closer to the closing date or just do it now.

 

[KPeterso]

Wait for closer to the closing date. I asked my title company to let me know when the seller documents were received and then I wired my money, but I did not have a delayed closing. With a delayed closing, I would rather the money sit in my account than in a escrow account.

 

[DonMacGregor]

I asked my title company to let me know when the seller documents were received and then I wired my money...

This right here.

 

[MinBz]

I was a little nervous sending so early. Will send after buyer signs like you suggested. Thank you!

 

[MBTigger]

I sent in my final payment when I turned in my documents on my first resale purchase, but it took the sellers several weeks to finish their paperwork. It was long enough that the "close by" date on the contract was coming up and I was asking the realtors what happens if the date passes without closing. I should have waited until the sellers had returned their docs....

 

[RoseGold]

I did a pretty delayed closing. The title agent circled back a week or two before scheduled closing date, and we managed to close a couple days early. I wired the same day seller docs were recieved.

 

[DebbieB]

I bought VGC resale January 2020. Originally the listing had a delayed closing to May 2020. I was fine with that, there was only one 2020 point. The agent (DVC Resale Market) contacted me after the offer was accepted and said after review of the account, a delayed closing wasn’t needed. I closed end of January 2020. A lightbulb went off a few months later. The parks were closed in May 2020, what would have happened with the delayed closing? The trip they were delaying for would have been cancelled. Would the sale have to be delayed further? If they didn’t reschedule, would the contract have to be renegotiated with additional points? Just something I wondered about.