Legal Question in Real Estate Law in Indiana

I have a real estate contract to sell my home. The date of closing on the contract is August 14th. I was informed by the lender that the buyers said they didn't care if they closed on the 14th or not. They would settle for a day the following week. I also have a contract on a home I am purchasing that showed the closing date as August 14th. The sellers of that home have threatened to walk away since I was unable to meet the August 14th deadline. Is there anything I can do legally to the people that have a contract to buy my home? Obviously I want to sell so refusing to extend their contract isn't an option. We already had the movers at the house packing our belongings when we found out. We are without a home for a week while the buyers decide when they would like to close. Any other options?


Asked on 8/13/09, 3:42 pm

1 Answer from Attorneys

It is not likely that in this market your seller will walk away, so the reall issue is to keep communication open and to close asap.

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Without having your contract to review, it is impossible to determine what damages if any you may be able to recover or whether you have any legal options.

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Answered on 8/13/09, 3:47 pm


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