Legal Question in Real Estate Law in North Carolina

closing dates

I would like to know that if a contract states, that on or before August 21 2006 we will do our closing and it does not happen due to a mortgage company draging their feet, what are my rights.


Asked on 8/24/06, 9:28 am

1 Answer from Attorneys
Jeff Rosner Rosner Law Firm P.A.

Re: closing dates

It can depend. The simple answer is if this is a NC property you will generally have a reasonable time to close unless the contract states that Time is of the Essence. If the Seller is threatening to terminate the contract because you are not closing on the date specified, you will probably need to retain an attorney to review the contract and advise you.

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Answered on 8/24/06, 10:36 am


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