Seller with Problematic Buyer

[Cathie123]

The home is in New York State. Contract signed with a listed closing date on or around June 4, 2007. Everything is ready to go; Paralegal called me (Seller) on May 29th to set closing date of June 7th. Later on in the day I rec'ed a call from MY attorney advising that the buyer now NEEDS to close on May 31st otherwise she will have to pay June's interest on the mortgage and come up with the 1st morgage payment in July. According to MY attorney, this buyer "Has no money" and can not afford to buy my home if we can not close by May 31st. This is only 2 days from the date of the phone call and is completely unrealistic for me (the seller) to close on my home and be out in this amount of time. This almost sounds like a scam to me. If in fact, the buyer backs on the deal based upon the above stated information, will this buyer be in breech of contract? All the contract states is that the buyer may back out only if she cannot get a mortgage commitment, which she already has. Please advise and thank you in advance.

 

[seniorjudge]

This is a buyer's market out there in real estate.

Sell the danged place while you have the chance!

 

[CraigFL]

I agree... sell the house and rent it from the buyer for two weeks until you can get out...

 

[Cathie123]

I thank you for your replies. I have thought about renting it for two weeks; however, this buyer has nickle and dimed me since February when this whole fiasco began and I'm quite certain that upon offically vacating the premises she will in turn find things wrong (nothing of course that we will have done to the property) and try to fish me out of my escrow.
Believe me I am more than grateful to be selling this home and moving on, I just can not do it in 1 day! Once again, thank you for your assistance.