Contracts signed but vendor is delaying closing!

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petrucci

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Hi, I am just wondering if there is anything we can do about it. I am feeling a bit helpless. We need to move in as quickly as possible but I was told that although the vendor already signed the contracts, they didn't accept our closing date and suggested nearly 2 months later! Are we trapped, having paid the deposit and having signed the contracts?
We're really under pressure here so please help!!!
 
Hi, I have, he says it's now only down to negotiations. Is it really?!?

..and if it is, we're in a pretty bad negotiating position, aren't we?
 
petrucci said:
Hi, I have, he says it's now only down to negotiations. Is it really?!?

..and if it is, we're in a pretty bad negotiating position, aren't we?
Click to expand...


Not necessarily. If there are now binding contracts in place with the later closing date then you are stuck with that. However the closing date not having been agreed(ie it has been changed without your consent) it is arguable that you can walk away and buy elsewhere. It is now a buyers market so the vendors may suddenly become flexible if they think your threat to walk away may be real. You need to get your solicitor to tell you whether you can do this. If yes you have to decide how far you want to push it!
 
Where a date for completion is not agreed, the Closing Date is 5 weeks from the date the contract is signed (by the vendor)
 
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