Does real estate closing figures reflecting 2 days past contract expiration gives seller flexibility

[rockandroll97]

Jurisdiction

Florida

i signed to sell my house with a quick close to an investor through MLS. Buyer realtor wasted much of contract time with further negotiation about price.
1 day before day of closing expiration I spoke with title company and they said no way we could close until the third day, a day past expiration.
On day of expiration i received closing paperwork to review, with figures all reflecting a true closing date of two days later, two days past the date the contract specified.
The next day, i told parties involved i received counsel from friends not to sell and am reconsidering selling. They are threatening a lawsuit. Do they have grounds to sue or did closing figures past contract date give me flexibility?
Thanks in advance!!

 

[Tax Counsel]

i signed to sell my house with a quick close to an investor through MLS. Buyer realtor wasted much of contract time with further negotiation about price.
1 day before day of closing expiration I spoke with title company and they said no way we could close until the third day, a day past expiration.
On day of expiration i received closing paperwork to review, with figures all reflecting a true closing date of two days later, two days past the date the contract specified.
The next day, i told parties involved i received counsel from friends not to sell and am reconsidering selling. They are threatening a lawsuit. Do they have grounds to sue or did closing figures past contract date give me flexibility?
Thanks in advance!!

You need to have the sales agreement reviewed by an attorney. While the contract specified a closing date, in some states if the contract does not specifically state that time is of the essence or similar wording to indicate that the closing date is not at all flexible then a closing date just two days after that stated in the contract would not be a material breach of the contract and in that case you refusing to sell would be the material breach of the contract. I've not researched Florida law on this point; you need to talk to a real estate attorney in Florida who is very familiar with that state's law and has read your contract. You should have had an attorney on board to help with the sales process anyway and called him/her as soon as it was clear the stated closing agreement would not be met to get advice. If you flub this it could be costly to you. So talk to a real estate attorney ASAP.

 

[Zigner]

You need to have the sales agreement reviewed by an attorney. While the contract specified a closing date, in some states if the contract does not specifically state that time is of the essence or similar wording to indicate that the closing date is not at all flexible then a closing date just two days after that stated in the contract would not be a material breach of the contract and in that case you refusing to sell would be the material breach of the contract. I've not researched Florida law on this point; you need to talk to a real estate attorney in Florida who is very familiar with that state's law and has read your contract. You should have had an attorney on board to help with the sales process anyway and called him/her as soon as it was clear the stated closing agreement would not be met to get advice. If you flub this it could be costly to you. So talk to a real estate attorney ASAP.

I'd also like to add that it's possible that the OP (seller) acquiesced or even agreed to (through words or deeds) an extension without having realized it. An attorney will help the OP clear this up.

 

[adjusterjack]

1 day before day of closing expiration I spoke with title company and they said no way we could close until the third day, a day past expiration.

Then that's when you should have taken any appropriated action that was available to you.

I tend to agree with Zigner that you may have waived any such action by accepting the delay.

Besides, how has a two day delay in closing damaged you. How many dollars did the two day delay cost you? Actually cost, not imaginary.