Seller Wants Two-Week Extension to Close Escrow

Question: My wife and I are first time homebuyers in our late 20s. We signed a contract to purchase a home in Chandler. The close of escrow is scheduled in two weeks. Our apartment lease ends in two weeks. The seller’s real estate agent just told us that the seller will not be able to move out in two weeks, and that the seller needs a 10-day extension of the close of escrow. Our landlord says, however, that another tenant is moving into our apartment in two weeks. Therefore, our landlord won’t extend our lease for even one day. What can we do?

Answer: Your real estate agent should immediately notify the seller’s real estate agent that the requested 10-day extension of close of escrow is denied. The seller has already broken one promise to move out on a specific date, so why should you believe the seller’s second promise to move out ten days later? Further, what if the seller does not move out ten days later? The beat goes on.… Therefore, if the seller does not move out at the time of closing, under the purchase contract a three-day cure period notice for possession of the home should be sent to the seller. If the seller still hasn’t moved out in three days, a specific performance lawsuit against the seller should be filed because you now have the right to possession of the home. At an accelerated court hearing in 30 to 60 days, the Judge should order the title and possession of the home to you, plus any damages such as additional rent and storage expenses, attorney’s fees, and court costs. The Clerk of the Court can sign the deed to the home to you.

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