No the contract does not provide an option period or anything like that. Closing was set for yesterday and of course that did not happen. They have asked how much it will cost them to get out of the contract and said they want to settle out of court. Apparently they moved here from Ca. and now...
Thanks NYClex! There was no agreements like that. The contract only mentions termination by them if the appraisal is low, they get denied financing, or if after inspection we failed to fix something, etc.
This was originally posted by Tim R. (my husband). I wanted to give it its own thread in hopes it gets viewed sooner.
Thanks!
"We got a contract on our house a week ago. The close date is the 10th of Oct. On the 30th of Sept we got a phone call from our realiter saying the people want to...