Seller of home wishes to back out after purchase agreement expired. What can I do?

My realtor submitted numerous times for an extension and she refused to sign. I went over by two days of closing due to having to have a land review in addition to the appraisal. That took a while. I have paid for the title, survey, land review, inspection, earnest money,. Now the lady regrets to sell and does not want to close!!! Do I have any recourse or I'm out of all that cash?

Seller of home wishes to back out after purchase agreement expired. What can I do?
Unfortunately, if you have not closed prior to the date the purchase agreement expired, you're out the cash. Technically, since you haven't closed the loan, and there was no extension signed (even if it was offered and she didn't take it), in the law's eyes you are the one who defaulted on the contract. Legally you signed a document stating you were going to purchase the home within a certain amount of time, which you failed to do.





Sorry :(
Reply:If they won't extend it your S.O.L.





For the next property that you bid on please ensure that they do not place a contingency date on the contract! It can be done that way. Don't let them tell you otherwise.
Reply:I will take a different approach, usually real estate contracts hardly ever close on time within the contract, this is common practice in the industry unless the seller explicitly made a time is of the essence or in the initial contract highlighted and exactly phrase a time is of the essence you may have a case for specific performance , talk to a real estate lawyer about your contract
Reply:If you failed to close on the date in the contract, you probably have little recourse. Read over your contract (accepted offer to purchase and any amendments that were accepted and signed by both parties) to see if it addresses delays outside your control. If not, you might be SOL
Reply:I am surprised that she doesn't want to sell. You must have a amazing micro market in that area or you have an agreed upon price way under the market.





You have no recourse except to renegotiate. I would speak to the broker and ask them to contact the listing broker to see what the problem is. Perhaps it is a misunderstanding but you will need the person close to the seller to determine that.





Next time always leave plenty of time or some other sort of caveat that will allow you to get what you need done in the time period allowed.
Reply:It depends on the contract. You maybe able to get the earnest money, but the rest of it is your expense. Since the contract expired, and she did not allow you to extend it, she is within her rights.

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