Hi,
I am trying to purchase my first investment property...This is my first purchase, so I am not an expert but I have a feeling things are not going very well.
Roughly 2 motnhs ago I signed a contract to purchase a property in a 55 and older neighborhood. The seller went ahead and signed it (accepted). I went ahead and deposited a 4 figure sum, with the understanding the closing will be at the end of June. Coming end of June I was asked to postphone because the seller's future property was not going trough. I agreed to it so we re-signed an addendum saying the closing will be on or before July 30th. I went ahead and set the closing for July 23rd, but the seller told me is impossible for her. Now I re-scheduled for the 26th but she is nowehere to be found to sign this new contract. All this time my real estate agent keeps asuring me is all going to be fine, but I am tired of it. In the contract I do not see any kind of clause stating what will happen if she does not respect the contract agreement. Can anyone advise me? All I know is we do have an agreement that the sell should go trough by July 30th(the latest) but if it doesn't, what are my rights? Am I going to get my deposit back, if yes, when? Can I file a lawsuit for breach of contract? Please advise. Thank you in advance for your help!

I am kinda in the same situation. Not sure what to do yet. Have to find an RE attorney to give me advice though, I think.

What did your agent say about the status of the contract if the closing day is not met? If agent does not have answer, request an answer from agent's broker/manager.

I am not an attorney and I do not give legal advice.