Can seller move closing date? What are our rights as buyer?

[Angela MIller]

We have a contracts for closing on duplex 9/18, owner wants to move to 10/1? We do not want to, what are our rights?

[Angela MIller]

@Joe Splitrock

You are completely right on!! I appreciate your insight on the rent collection part. I didn’t even think that could get complicated as well.

I called their bluff and actually told them I am willing to trash the deal. I am sick of going back and forth. As they had agree to pro-rate rent at one point, and I was trying to figure out how to make it to title company on new closing date (maybe see if title company will open 30 mins later or see if my other pharmacist can come in to cover me so I can leave a little earlier...as vaca window for Oct 1th is closed already). Then I got an email the next morning saying owner will not prorate rent. I explained my frustration and stated that if it was up to me I will trash the deal now. So I told them to only talk to my partner and I gave him full rights to do whatever at this point. All along, I was the one that found this deal and really wanted the property and took on a partner so I can obtain both duplexes and have more negotiation power. My partner is the no bs kinda guy, so I think that scared the crap out of them. I immediately got a response within an hour that they will close on my preferred closing date of 9/18 and are willing to set up an escrow account for funds for remainder of project. I think owner was eager to close deal as he is probably not certain if the secondary offer will actually go through or just want it to be done. Escrow account only cost like $200, so not a big amount to end a deal. So glad I had my lawyer’s cell number and he available to talk after hours!!

THANK YOU for your feedback and suggestion!! Appreciate it very much!!