Legal Question in Real Estate Law in Florida

Binding contract regarding closing

We originally signed a contract to purchase a home on 03/29/05. We agreed in the contract to close on 04/29/05. A lot of issues came up regarding the appraisal and the agents fees and an addendum and new contract was just signed today on 05/02/05 with all parties agreeing to close on 05/09/05. The seller's realtor states if we do not close on 05/09/05, she will make sure that we do not receive the property and will go to contract with another buyer. Can she do that by law? Isn't there a 45 day grace period for a contract once all parties have signed?


Asked on 5/02/05, 6:29 pm

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: Binding contract regarding closing

While there is no grace period contracts usually read "on or about" in case a last minute problem arises. She certainly should not be threatening you. Unless you are in breach, she cannot sell to someone else.

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Answered on 5/02/05, 6:41 pm
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Binding contract regarding closing

It is improper for the reaaltor to be threatening you. Likewise the contract date should be adhered to especially since the closing date is so near the contract date. Yet if last minute probleems arise , they could be good cause for a continuance of the closing date. You should have counsel representing you.

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Answered on 5/02/05, 6:53 pm


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