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Ask Barrister Your Own Question
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33803
Experience:  15 years real estate, Realtor. Landlord 26 years
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Need advice when I entered a as is contract purchase of a

Customer Question

Hi need advice when I entered a as is contract purchase of a condominium we did a contingency of a loan commitment but we also put closing on her before a certain date does the loan commitment override the closing
JA: Where is the property located?
Customer: It's located in Florida Hialeah
JA: Has any paperwork been filed?
Customer: The reason for the delay was for issues from the association delayed on giving the condo questionnaire so they actually emailed me the CD the day after but they sent the closing documents to the seller couple of days before that day and one of the center. Actually closed and signed on the exact date on the
JA: Anything else you want the lawyer to know before I connect you?
Customer: I've been I've been ready to close
Submitted: 24 days ago.
Category: Real Estate Law
Customer: replied 24 days ago.
Seller saying that I'm default in which
Customer: replied 24 days ago.
She doesn't want to close for her reason on that she will receive a 1099 from the sale
Expert:  Barrister replied 24 days ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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we did a contingency of a loan commitment but we also put closing on her before a certain date does the loan commitment override the closing

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In any real estate contract, both parties have a legal duty to act in good faith towards each other in working towards getting the sale to close. So if the buyer is working towards getting a loan, and the closing date passes, the seller has a duty to extend any closing until the buyer either gets a loan or is denied.

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If they are denied, the buyer has a duty to notify the seller and then the seller can either agree to let them try again with a new lender, or they can terminate the contract and move on to another buyer.

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But as long as the buyer is working in good faith, the seller has a duty to make reasonable extensions of the closing date.

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As an aside, in addition to being an attorney, I have also been a licensed Realtor for over 14 years...

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thanks

Barrister

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