What happens if you get to the closing date and ......

[kniquy]

So we are coming up on our closing date for a resale contract. It is supposed to be this Friday, 6/7. I have been in touch with the closing company a couple times over the past 2 weeks. I was told the paperwork had been signed and notarized but originals had not been received by the closing company yet (this was as of last Wednesday).

Here we are a week later. You would think even with snail mail the office should have the documents by now (especially considering the sellers live in FL), but i have yet to hear anything.

So what happens if you get to your closing date and things have not been completed/send to the county clerk? I know there is a written provision of the closing may be extended. How often does this happen?

Thankfully I don't need to use the points until August, but i'd hate to have to start the process over if something is going wrong with this closing.

Sorry for the rant -- just seems like this closing is going extra slow compared to a past resale purchase.

 

[CraigInPA]

In general, most sale agreements have an option for the seller and buyer to agree to extend the closing date by a fixed period of time (usually 15 or 30 days). You may have to send in notice to either extend, or not extend on the closing date. Read your contract.

 

[KAT4DISNEY]

I had that happen once with a sale and had to agree to extend the closing date. And then again. This followed a couple other things that popped up during the sale and I actually did refuse to extend a second time and cancelled the sale. I had no belief it would be completed that time either. Still own that contract!

 

[scot@dvcstore]

Might help to reach out to your broker so they can work with the seller and closing company to get things moving and get your file closed. Sooner your file closes the sooner you can start planning your vacations.