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tmimmsha · Oct 17, 2007, 07:41 AM

My husband and I signed at a scheduled closing on inherited propert yesterday, but the other signing party did not show up for closing. What will happen now that my husband and I signed but the niece has not. The money is to be split 50/50 between husband and niece. Yes, the other party (niece) did sign the Agreement to sell as well as my husband and I. What will happen if we did our part but she has not. The title company has been contact with the niece prior to the actual closing date. The title rep. and the investor has been trying to get in contact with her. She was called Monday night informing on the closing and the time.

excon · Oct 17, 2007, 07:50 AM

Hello tm:

I would guess that the closing isn't complete without her signature. Assuming that you had an agent do the closing, the agent won't distribute the funds until it IS complete. Hopefully, the agent is doing his or her best to meet with the niece so the closing can be completed. After all, it's her money too.

Why didn't you discuss this with the agent?? Certainly, you could HELP get the niece and the agent together...

I'm also assuming there's a buyer here who could walk away and NOBODY get's any money...

But, I'm probably making too many assumptions here. Why don't you give us some SPECIFICS, and then we can give you a SPECIFIC answer.

excon

pacific nw · Oct 17, 2007, 10:17 PM

Normally a Purchase and Sale Agreement has specific instructions regarding the closing date. It can be something like: "Closing to be on Oct 15, 2007" Then it MUST occur on that date. Or it can state "Closing to be Oct 15, 2007 OR LATER" no problem if she doesn't make the Oct 15 closing date. Just set up a new signing time. Or it can say: "Closing to be Oct 15, 2007 OR SOONER). Obviously, this would then be a problem and the transaction would need an EXTENSION signed by ALL PARTIES.

If there is still a valid closing date available, you could have the escrow office do a "remote closing" at your niece's place of preference.

More importantly, there is a reason people don't show up for the closing. You should find that out first. You can't make her sign, but you can try to understand what her concerns are and deal with those.