Is there a potential legal action for being delayed in closing numerous times.
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Is there a potential legal action for being delayed in closing numerous times.
I am selling a home of which I have accepted an offer. Bank
commitment has been reached buy buyers, however closing has been
delayed three times. I am about to loose my potential new house
which is under contract and ready to close do to this delay. My home
belongings are on a moving truck and I will begin having the
potential of paying for second move as a storage fee.
Kind regards
Asked on September 30, 2016 under Real Estate Law, Massachusetts
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
If the other side has violated the agreement by missing closing days *without you consenting to the delay*, then you could potentially sue them for any costs you thereby incur due to their breach or failure to make the agreed-upon closing date, such as additional storage and moving costs. But if you agreed to the changes in the date(s), you have no recourse, because the dates were delayed with your concurrence.
If you need a firm date now, send a letter, sent some way or ways you can prove delivery, to the buyer stating that "time is of the essence," receiting the history of delays, and setting a new date by or on which you must close; in the letter, also clearly state the costs and other issues which will occur if you do not close by that date and state you will hold the other side liable for your costs if they do not close as scheduled. If after that they still don't close as scheduled, you will at least have laid groundwork supporting your lawsuit; and hopefully, the letter will prompt them to finally close.
Needless to say, if you need this to be a rock solid date, do *not* agree to any further delays, for any reason.
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