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Updated almost 5 years ago on . Most recent reply

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Sami Gren
  • Rental Property Investor
  • new jersey
38
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415
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Seller taking his time and long after contract period

Sami Gren
  • Rental Property Investor
  • new jersey
Posted

Hi, I'm in contract on a multi-family house and it is already more than 3 month - that's much longer than the 60-day contract we have. 

And I can't close because the seller still has to get done a few things, he claims that he is trying to do it and  nothing in his hands to make it go faster but I highly doubt that and it's taking way way too long, my lawyer claims that there's nothing he can do on his I end, I'm wondering if it is really so (because he doesn't really sound too experienced)

Most Popular Reply

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
7,585
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

Time is of the essence enforces the contract provisions and makes them move fast, but in reality it is only as useful as the attorney trying to enforce it. PSEG does not take a month to come out. It could be permits that were not closed and an electrical inspector, that is possible.

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