When you go through the process of purchasing or selling a home, everything will culminate on the closing date — the day on which the seller transfers ownership to the buyer.
The closing date is typically agreed upon by both parties and set in the sales contract. From the time the contract is accepted, the closing process will generally take around 60 days.
If something comes up in that time that leads one or both parties to want to reschedule the closing, that can be done, but it requires coordination and agreement from all parties involved.
Most sales contracts allow for wiggle room to reschedule, though you should check your contract to see if there are any stipulations or penalties involved. You can also consult with your realtor or attorney on your specific situation.
Common reasons for rescheduling a closing can include scheduling conflicts, issues found during the home inspection, or the buyer requiring additional time to secure necessary financing.
It’s important to remember that changing the closing date can impact various aspects of the transaction, so it's important to communicate with all parties involved to make sure there are no issues. That includes, at the very least, each party’s attorney, and the lender. It’s best to get their approval of the date change in writing.
Need an experienced attorney for your next closing?
At Pederson Real Estate Law, attorney Charlene Pederson has over 25 years of experience guiding Connecticut clients through residential real estate transactions. If you need an experienced, attentive attorney for your closing, reach out today for a free consultation.