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Updated about 5 years ago,

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Nick Chungo
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NC OTP 14 day extension question

Nick Chungo
Posted

Closing date on a property i am selling in NC is Jan 31st 2020. This contract has been in place for 2 years in which buyer has been a renting tenant. This offer to purchase was written up as buyer not needing to obtain a loan / paying cash etc. Due diligence period is over at this time. I do know that the buyer does not have the cash anymore and is working on getting a loan which does seem to be panning out for him either. I am pretty sure he is not aware of the 14 day extension period in the NC OTP contract nor has he given me notice he needs that period at this time. My question is since it was a cash offer do i legally still have to give him that 14 day extension ??? In my opinion he does not deserve it one bit, he has been an awful tenant, ran out of his funds to purchase, and put me in a bad spot with all of this. Any help or advice regarding this question is much appreciated.

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