Legal Question in Real Estate Law in Wisconsin

Closing date canceled last minute

Is there any recourse for the buyer when final commitment papers were turned in 10 days prior to closing by mortgage company and closing date and time set up for 2pm then changed to 9am then with no notice from mortgage co 10a no call it was changed to 1pm and would take place and a 1am call comes closing is not taking place maybe sometime the following week and in the meantime utilities have been changed movers set up as of the closing date and everything had to be cancel and is now waiting for another closing time. Time money jobs and and tremendous stress has been incured is there anything that can be done?


Asked on 9/27/08, 10:52 am

1 Answer from Attorneys
Sean Sweeney Tosa Law Office

Re: Closing date canceled last minute

I suppose I am confused about what you want?

Do you still want to buy the house?

Are you hoping that you still get to buy the house but they owe you some money?

Basically you want to look at the contract (the offer to purchase) and see if it has been complied with. There is usually a date that they have to close the property within. (Or a statement of "within x many days")

If they have violated that, you may be able to void the contract and get out of your obligation to purchase the house. You may be able to negotiate some other resolution but basically it requires a determination of whether the contract was violated or not.

My advice is that if you want the house at the price you offered, just realize that these things happen, get through the closing and enjoy your new house.

Sean

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Answered on 9/28/08, 9:47 am


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