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Closing Date

Started by Misc
over 17 years ago
Posts: 20
Member since: Sep 2007
Discussion about
On the signed contract a tentative closing date was scheduled to take place during the middle of next month. The board already gave their approval several weeks ago, but now the seller want to extend the closing date by 2 months. Could the seller extend it by 2 months given the fact the buyer and attoneys for both side are ready to close?
Response by manhattanfox
over 17 years ago
Posts: 1275
Member since: Sep 2007

It is in your contract - usually 30 days of closing date....

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Response by jadedinNY
over 17 years ago
Posts: 53
Member since: Nov 2007

Either party has 30 days past the original closing date to change it. Anything else would have to be in the contract or negotiated between lawyers

I imagine a lot of people want to extend their closing dates now. As a person who sold today I feel for the sellers. Hope they didn't buy something based on a contract.

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Response by shong
over 17 years ago
Posts: 616
Member since: Apr 2008

Im sure that will affect your rate lock. If you have to pay any extension fees then you should have your attorney negotiate that the seller pay for it because of the extensive delay. Worked for one of my borrowers. sunny_hong@countrywide.com

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Response by Misc
over 17 years ago
Posts: 20
Member since: Sep 2007

How does the mortgage rate extentsion fees calculated?

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