Reply to A question for agents and others re the legal position as it pertains to the closing date

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Reply to "A question for agents and others re the legal position as it pertains to the closing date"

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[quote=Anonymous]Now that the OP has offered additional details we know there is an addendum which may give flexibility to the seller as to when possession must be given to the buyer. This is the reason I said you can't opine on the seller's rights - or the rights of the buyer - without reviewing the entire contract. The seller was constrained as far what was shared and anyone with half a brain could tell there was information that had not been provided.

As far as the "best efforts" clause is concerned, it is a very complex area of the law and it depends on the specifics and details that are within the clause. An overly broad clause is likely to be problematical.

Contract negotiation is often predicated on the leverage that the parties to a negotiation have or think they have. IMO, the final resolution will be some sort of compromise. It appears the seller is seeking a rent-back and that will likely be granted. It really would not serve either party's interests to litigate this both from a standpoint of cost and ultimate outcome. [/quote]

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