Legal Question in Real Estate Law in Massachusetts
The bank selling the house I am trying to buy has now extended the closing date 3 times and I've had enough. Can I request per diem penalties? I also have paid for a rate lock which is almost up. If it goes past that can I sue for them to pay the difference in interest?
Asked on 11/19/13, 4:56 pm
1 Answer from Attorneys
Christopher Vaughn-Martel
Charles River Law Partners, LLC
You will have to have your agreement reviewed by an attorney, but, as the buyer, and assuming that you are in compliance with the terms of the parties purchase & sale agreement, you should have the right to enforce the agreement. If you are going to agree to another continuance, you should ask for them to pay for your rate lock extension.
Answered on 11/19/13, 7:31 pm
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