Legal Question in Real Estate Law in New Jersey

Closing Dates

I am buying a house and was told by my real estate agent that the

owners of the house want to close on the 15th of the month. I told

her and my lawyer that I would prefer to close on the 30th. I have to

give a months notice on my apartment andI don't want to have two

mortgage payments on top of one another. It now seems from what

my lawyer E-mailed, that we may have to close ont he 15th. My

question is: Can my closing date be scheduled without my input?

Is there anything I can do?


Asked on 11/03/04, 10:35 am

2 Answers from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Closing Dates

Unless time has been made of the essence, which requires a written notice that can be made by either party, the closing date is somewhat subjective. If you wanted, you could delay the closing and compel them to give you the time of the essence notice. This could buy you another 10 days. I have not seen the contract, so I can oly provide you with general information, not a specific answer to your question.

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Answered on 11/03/04, 12:01 pm
Alan Albin Alan S. Albin, Attorney at Law

Re: Closing Dates

The closing date is one of the terms of your contract and is completely negotiable.

You can agree to close on any date of the month that the other party agrees to. There is nothing magical about the 15th of the month. It may be easier for you or someone else.

If you have already signed the contract, and it provides a specific closing date, then you are obligated to make a good-faith effort to comply with that date. It can cause problems if you don't close on the date in the contract, in terms of getting the mortgage paperwork ready, other persons' scheduling for moving, etc. etc. etc.

But, you've got a lawyer and a realtor. Why aren't you talking to THEM about this?

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Answered on 11/03/04, 6:34 pm


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