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Law Pro
Law Pro, Lawyer
Category: Real Estate Law
Satisfied Customers: 24870
Experience:  20 years extensive experience in real estate law, foreclosure, finance, and landlord tenant law.
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If a seller delays closing at last minute, 35 hours before

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If a seller delays closing at last minute, 35 hours before closing, because they have yet to complete agreed to repairs and those required by FHA, am I entiteld to compensation? Did they break contract?
Hi! My name is XXXXX XXXXX I'll be the attorney assisting you.

I practice in the metro Pgh, PA area.

Was "time of the essence" as to the closing date?
Hi!

I don't know if you received my previous response so I'll post it again.

My name is XXXXX XXXXX I'll be the attorney assisting you.

I practice in the metro Pgh, PA area.

Was "time of the essence" as to the closing date?
Customer: replied 3 years ago.


do you mean was that term included in the contract? I don't believe so. But I was told everything was on track, I set up utilities and deliveries for that day and the next and have now had to undo everthing. Doesn't this constitute breach of contract especially at 35 hours from closing?


 


Time is of the essence in the fact that they have effectivly cut a week from timeline to prepare the hose and move.

What purchase sales agreement form is applicable? Is it the standard PA Realtor's
form?

What's the number of the form or date?

Usually the form has a "time of the essence" clause within.
Customer: replied 3 years ago.


Standard Pa Form

Does it have at the bottom left the wording "Pennsylvania Association of Realtors"?

I just want to make sure of the agreement that we're talking about.
Customer: replied 3 years ago.


yes it says that

OK, just wanted to make sure of the agreement form used.

Paragraph #5:

B - the settlement date and all other date and times identified for the performance of any obligation of this Agreement are of the essence and binding.

D - the settlement date is not extended by any other provision of this Agreement and my only be extended by mutual agreement of the parties.




So, botXXXXX XXXXXne is - ABSOLUTELY the Seller is in breach of the contract and you can recover any damages you incur - additional housing or hotel accomodations, additional storage costs, etc.


In fact, you can cancel the contract if you so desire.


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