Contingency Not Met

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Contingency Not Met By Closing Date
	We have a contract on a property contingent upon the sale our home. We did not add a date that our home must be sold by in the contingency. We are 10 days from our closing date and our property has not sold. All other financing and inspection contingencies have been met. Should our property not sell by the close date, and we do not opt to extend the contract, are we entitled to our earnest money?

	I am not a lawyer and I haven't seen your contract. I can tell you that the closing date mentioned in the usual sales contract is merely a target, and that if it passes the contract remains in force. That's true unless "time is of the essence." In your situation, your best bet is consult a real estate attorney to find out what your options may be.
	Edith Originally published on May 28, 2007

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Contingency Not Met By Closing Date