What is the law regarding open ended closing date?
Question Details: We are presently under contract for the purchase of a home and have been through all inspection. The agreed upon closing date per the purchase agreement is "Open Ended" and there were not additional stipulations added at the time of signature, except for our financing contingency. Our real estate agent offered the truly open ended closing date without our knowledge in the counteroffer, which we then signed, and was then accepted by the seller. We are now a few months into waiting for our seller to find another home so that we can complete the purchase, however she has yet to find a place. We want this house badly. We have an escape contingency which we can utilize to get out of the purchase and get our earnest money back, however we truly want the home. We have long closed the sale of our previous home and are bouncing around from place to place, waiting this out. We can obviously on do that for so much longer. Is there any route we can take to try to force the seller out of the home by a given date? Obviously we can offer an amendment which states this but she would never sign. She has already expressed her displeasure with our attempts at nudging her towards closing. She feels rushed. Credit to her, she negotiated an open ended closing date and she wants to use that fully. However, given the circumstances, we need to explore our options. We are prepared to walk away from this, but we want the home and this is my last-ditch effort to try to find a way in.
Unfortunately, you cannot force her out earlier than she is willing to go: the seller only has to close and vacate by the date agreed upon the contract of sale, and there is no agreed-upon date.
Arguably, you and she do not even have an enforceable contract: to have a contract, there must be mutual agreement as to all the key or important terms. Closing date is a key or important term for a real estate contract, but there is no agreement as to that date; hence, this might not form an enforceable contract.