Hi everyone
Have an interesting situation with a settlement due tomorrow, so I thought I'd see what ideas or experiences others have had.
During the 60 day settlement process, the vendor asked if they could settle on the Friday (tomorrow) but not hand over vacant possession until Sunday or Monday. This was because she was buying a caravan and using the settlement funds to pay for it.
My lawyer suggested that was fine, as long as $5000 of the settlement funds were held in trust until vacant possession was obtained. This suggestion was rejected.
Today I went to do the final inspection, the RE agent had arranged for the vendor to open the house - guess what, no show. Not sure if that was as a response to the above tussle or not. But it highlighted one thing - the agents have no keys to the house. It was also apparent that the house is far from vacant at this point in time.
So my question is - what should I do? I have a suspicion that the vendor is planning to go ahead with the original plan, despite having no legal agreement to that effect. Without keys, there's not much I can do - is there???
Looking forward to your responses!
Have an interesting situation with a settlement due tomorrow, so I thought I'd see what ideas or experiences others have had.
During the 60 day settlement process, the vendor asked if they could settle on the Friday (tomorrow) but not hand over vacant possession until Sunday or Monday. This was because she was buying a caravan and using the settlement funds to pay for it.
My lawyer suggested that was fine, as long as $5000 of the settlement funds were held in trust until vacant possession was obtained. This suggestion was rejected.
Today I went to do the final inspection, the RE agent had arranged for the vendor to open the house - guess what, no show. Not sure if that was as a response to the above tussle or not. But it highlighted one thing - the agents have no keys to the house. It was also apparent that the house is far from vacant at this point in time.
So my question is - what should I do? I have a suspicion that the vendor is planning to go ahead with the original plan, despite having no legal agreement to that effect. Without keys, there's not much I can do - is there???
Looking forward to your responses!