Definition of "Adjournment of closing"

Act of postponing a closing for another day or place. Adjournments of closing can occur for a variety of reasons including the lack of an appropriate closing statement, one or more parties being unable to be present, or an irregularity in the title report or credit check. If both parties agree to the adjournment, the closing may be rescheduled. In the event of a cancellation, the purchase contract may be jeopardized, dependent in par on the cancellation clause.

Comments for Adjournment Of Closing

Lisa D Lisa D said:

I want to know if I could sell my home it was up for a shield sell but I got an adjournment for 2 months I don’t want a short sale could I just sell it without a short sale

Apr 26, 2023  15:37:38

 
Real Estate Agent

Hello Lisa! Thank you for getting in touch with us! As a reminder, a short sale can be more beneficial than a foreclosure. Still, due to specific circumstances, you cannot anticipate, we highly recommend contacting a local local real estate agent in your neighborhood! They can prepare you for all scenarios. Secondly, reach out to your lender to obtain a loan modification or a revised payment plan. Plus, the adjournment may apply certain legal restrictions as well. For this reason, seeking an expert real estate attorney would also benefit you!

May 15, 2023  07:46:33
 
 
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