Q: Home buyer in NJ. Sellers are dragging their feet and wont close. What can I do?
My lender is ready to lend. I am, and have been, 100% ready to go. Sellers did not show up to closing. Because of this, I am being charged additional expenses for an extension of a rate lock and additional attorney fees because my attorney must redo the CD with a new closing date. I was informed that I can not seek these fees from the seller until they formally breach the contract. I was also informed that because NJ is not a 'time of the essence' state, that the sellers can not be held liable for my added expenses unless do not respond by the date indicated on the time of the essence letter. But so long as they do respond in time of the
time of essence' letter, then I'm still stuck with those fees. In plain english, I'm ready to go, but sellers are not. I am being inconvenienced because the sellers are delaying, and I have to pay for it. Doesn't seem right. Is this correct?
A: Since you have an attorney, all your questions should be directed to that attorney. If you decide to retain new counsel, then you should ask new counsel your questions. No one here is going to second guess your attorney, who knows your situation better than anyone else. Good luck.
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