What to do about a delayed closing?

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What to do about a delayed closing?

We are sellers of a home that was supposed to close last Friday. Escrow received the buyers grant deed around 3:00 PST on Friday and escrow said it wasn’t enough time for them to record, so we would close Tuesday (after the holiday and weekend). It costs us the seller more then $200 to carry the costs for the extra 4 days. Escrow was the buyers choice. We do have a time is of the essence clause. Buyers, escrow, and buyers agent don’t want to reimburse us b/c they are all pointing the finger. Who is responsible? Should we delay close until we are reimbursed?

Asked on November 12, 2012 under Real Estate Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I suggest that you close the transaction and then ask escrow to reimburse you the additional money needed to carry the costs of the transaction for the extra days you have written about. Escrow seemingly had enough time to close the deal and as such, it should pay the extra noney to you that you incurred.


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