Q: Seller will miss settlement of a land purchase due to contingency on Seller drilled Well. What are my options?
A: Start with the contract and consult your lawyer. If it isn't covered by your contract or you don't have a lawyer, you are probably cooked.
A: Figuring out options for someone in the middle of an active contract requires looking at the contract. People can write contracts in many different ways, with different consequences for things like inspections and meeting contingency deadlines.
Now if all the parties agree they could of course extend the contract by addendum.
You are strongly encouraged to talk with your real estate agent and/or attorney to get specific advice on your specific contract. While I hope this response contains helpful general information, it does not substitute for getting specific legal advice.
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