We are buying and selling in NY. I got a call on Monday morning that we had the clear to close. Our rate was expiring on the wednesday. My attourney informs me that our buyers need to close by the end of the week because they're lease is up and that we will have to pay to keep our interest rate, I wasn't aware of this. I told them we can close by Friday. They have to coordinate with both the seller of the house were purchasing and our buyers. The sellers attourney doesn't get back to mine until Tuesday at 11pm saying Friday will work but they don't have there items out of the house and they'd either need 2 weeks or would need to be able to use the sheds on the property. Our buyers bank also ends up saying they need more time and want to extend for 2 weeks out. I agree depending on the fee we'll have to pay. Today (Friday) my attorney calls me and says our seller will actually need a month to get there items and would like to rent the shed for 100$ a month. We told them no. They've had over 2 months since our offer was accepted and they aren't even living there and haven't for years. I also found out that to extend the rate we'll have to pay over 600$. I don't really feel like we should have to pay since we were ready to close. Our contact stated that we would be closing around the 26 so he knew that we would be trying to close. It doesn't seem like there's anyway to get out of the fee. I also learned that the bank ok us the previous Friday but no one even told us. We got all of our paperwork in asap usually within a couple hours of being asked for it. Everyone has been horrible at responding to me between the attorneys the bank and even our relator since we were under contact. Before they all were so good. I'm just really disappointed. We've had a lot where we've compromised with our seller and am wishing now that we would've just walked at the first sign of him being an asshole. We've also been good sellers. Our water heater broke 2 weeks ago and we replaced it with a new one, which sucked but we knew it was something that we had to do. Sorry I'm kind of ranting kind of asking for advice opinions.
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source https://www.reddit.com/r/RealEstate/comments/1dr509n/seller_is_holding_up_closing_and_costing_us_money/
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