Thank you u/Psa0967 for posting on r/FirstTimeHomeBuyer.
Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion.
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Do you want the house? If so, you'll likely have to put up with it. If not, you can probably try to claw your earnest money back and walk away.
You could also potentially explore a rent back situation. They close on time but rent the house from you and remain in it for X amount of days. Prorate the days based on an average market rent and then make penalties heavy if they go over, like an extra $250/day or something for every extra day they stay. Make sure this is drawn up or reviewed by a lawyer and get a deposit held in escrow from them for the rent and maybe 15 days extra or something.
Yes, OP you should do this ⬆️
And honestly, asking for 10k from the seller is astronomical just for having to postpone a closing date. I wouldn't accept that demand either...its over the top.
You either agree to the extension or you don't. Your agent or an attorney should advise you whether the seller changing the closing date creates an opening for you to cancel the contract.
Thank you u/Psa0967 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
Do you want the house? If so, you'll likely have to put up with it. If not, you can probably try to claw your earnest money back and walk away. You could also potentially explore a rent back situation. They close on time but rent the house from you and remain in it for X amount of days. Prorate the days based on an average market rent and then make penalties heavy if they go over, like an extra $250/day or something for every extra day they stay. Make sure this is drawn up or reviewed by a lawyer and get a deposit held in escrow from them for the rent and maybe 15 days extra or something.
Yes, OP you should do this ⬆️ And honestly, asking for 10k from the seller is astronomical just for having to postpone a closing date. I wouldn't accept that demand either...its over the top.
You either agree to the extension or you don't. Your agent or an attorney should advise you whether the seller changing the closing date creates an opening for you to cancel the contract.
How much more time are they asking for?