Do we have legal recourse if our closing was pushed back? Posted on March 07, 2011
Our home was scheduled to close on March 4 and on the afternoon of March 3, we were told that the closing would not occur, as the buyers (FHA loan) would not be occupying the home for 90 days. The closing can now take place mid-April. To make matters worse, on March 5, the water line inside of the fridge at the home ruptured and we now have approx. 10K in water damages that are being repaired under our home owner's insurance, with a deductible of 1K. In order to make the original closing date, we asked our builder to move up our closing date by 45 days, which they were able to do. We don't understand how the 60-Day occupancy was not caught earlier. We are now incurring additional mortgage payment(s), utilities, taxes, not to mention the deductible and our time. Do we have any sort of legal recourse? If so, would it be against the buyer's agent, the mortgage lender?
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