Legal Question in Real Estate Law in Illinois

Sell of a house

how long can the buyers keep pushing the closing date back. A closing date was set Sept 6, then pushed back 2 or more times since then. Still paying the mortgage and had to move out prior to the Sept 6 closing date, paying rent somewhere else


Asked on 10/19/07, 5:52 pm

1 Answer from Attorneys

Walter Palmer Law Office of Walter Palmer

Re: Sell of a house

You didn't have to let them push bck the closing at all. When the closing date was missed the first time the sales contract became void, and you were freed of any -obligation- to go forward with the sale.

Having said that it is a buyer's market. Still, you don't have to be a doormat. If they ask to push the day back further, tell them that you will, but because the contract has expired, you can revise the price, upward, of course, to cover, say, your rent or what ever.

You can also take them to court and have your lawyer ask for a writ of specific performance (I'm not a trial lawyer). In the petition, you can ask to have your legal expenses and other out of pocket expenses covered as well as for performance on their part

I'm surprised the realtors are going along with this - they don't get a commision until the house sells and real estate commisions are thin on the ground right now.

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Answered on 10/19/07, 7:44 pm


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