Q: How long do sellers have to close on a house? It is already 30 days past the one or about date, I the buyer am ready
Sellers are delaying, on or about date was 30 days ago, they won't set a closing date. What are my options?
A: You have one option -- send a time of the essence letter in a form governed by statute. That sets a firm date, upon which there is a default.
A:
The conventional wisdom is that the “on or about” closing date affords both parties a “float” of up to 30 days. In fact, there is no established law that specifies the 30 days. It could be less, depending upon the circumstances.
In your case, more than 30 days has elapsed. You are well within your right to declare “time of the essence” by having your attorney write a letter. And theoretically you could recover damages for all costs and losses past the stated time of the essence date. It all sounds good but as a practical matter, it is hard to recover anything meaningful. The seller is in a much stronger position in a time of the essence case because he is holding your contract deposit.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
