Legal Question in Real Estate Law in Massachusetts
We put an offer on a house. All parties signed. It stated a specific date for all to obtain/ sign the p&s. It also stated a closing date of April 7. Since then the sellers are stating they will not move until the end of June( not stated in anything we signed and they did not tell us until after our offer was accepted). We have paid for an inspection, appraisal, closed out of retirement funds at a big loss to pay for the down payment of April 7th. The sellers will not sign the p&s until we agree to a closing date of June 30th. We keep filing extensions on the offer to "keep the deal alive". They have filed nothing.
QUESTION. If we do not file another (5th) extension and the deal "dies" are we able to sue them for appraisal, inspection, other fees? We continue to file extensions in the hope that they will "work with us a bit". We have even said we will extend the closing until the end of April.
2 Answers from Attorneys
You may have the right to a return of your deposits and a cancellation of the contract on account of the seller's breach. You also have the right to negotiate a resolution that works for both parties. If you do not yet have an attorney, I strongly recommend that you retain one.
As far as your specific remedies at this point, you need to look at the terms you negotiated in your Offer to Purchase.
I will add a caveat to the answer above which is correct.
If you needed an extension to the agreement due to financing not being in place, the sellers may have the right to negotiate the sale date out further. I suggest you get an attorney in place ASAP.
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