seller not out by close of escrow date

**DUCKY911** · 09-21-2009, 08:18 AM

Hi,

Seller has not moved out or finished repairs by the date of close of escrow.

Escrow should have closed yesterday I have done all on my end and have all the funds (cash deal) at the escrow office. Seller is asking for 16 more days-----he has to do about 1000 dollars of section 1 pest work that is going to start in about 3 days and could grow into more work but not 16 days worth.

I don't want to give him the 16 days and feel out that my money is tied up in escrow ,I calc that at 5% intrest that 51 dollars a day.

in his defence if he has one it took for ever to nogeciate who was going to pay for the section 1 pest work ---back and forth 5 times each time me taking less than a day and he was taking 3 to 4 days eating up a 45 day escow. I ended excepting about 5k in exsisting damages.

he wants me to sign a 16 day extention---does he owe me the 51 dollars a day--what are my rights.

Bob

**Chrisopher Moltisanti** · 09-21-2009, 02:43 PM

It sounds to me man that you need to speak with a Real Estate Attorney. They'll inform you of your rights with regard to any written contract you have with the person that wants the extension: Contract Law is one of the first areas of study they get into.

If you didn't have anything in writing, well, he or you can say anything you like and will be volleying back and forth till doomsday.

Many lawers will sit with your for an hour and most in my experience will answer questions thoroughly for cash at the end of your meeting. One hour = ask all the questions you want, a hudred dollar bill, goodbye. Done.
Follow?

In my opinion, unless you have something, anything in writing, I don't care if it's on a napkin in crayon, you don't have much of a chance collecting anything from him and he can take as much time as he likes. But, look at your buyer's agreement, bring it to the attorney.

Good Luck.
CM

**Greg** · 09-22-2009, 05:38 AM

What does your contract say? In NC he would be paying a per diem for every day he is late.

**ohioreoexperts.com** · 09-23-2009, 10:55 AM

Unless you have negotiated a per diem or some other clause pertaining to this situation in your contract, I don't know that you can do anything. If the property is important to you then put a clause in your extension with a per diem for every day over the 16 days for non-performance. You could also choose to close with the defects or simply walk away from it. A bluff may get him to move faster but I would not recommend it unless you are completely detached from the property or the outcome.

Good luck.