The Seller & Buyer agreed to a Closing date where the closing & full possession was supposed to happen. The Title Company has waited to process the Buyer’s cashier check and has not yet provided the Seller & Buyer the HUD-1 and all other closing doc’s. The property is an HOA that will not allow Buyer to move in until they get the closing doc’s.
The Buyer now has to incur additional costs to stay somewhere else until the Title Company’s delays are solved—rental fees, movers, storage units, etc.
Because of the closing & full possession did not happen as scheduled per Contract, what are the Buyer’s legal options? Can the prorations be re-calculated? What is the Closing date in this case-- the scheduled Closing date or the date that the Title Company processes the Closing doc's?
It's impossible to say without seeing the purchase and sale agreement, as well as the escrow agreement (if any) with the title company. I would start by trying to figure out who is at fault for the delay. What does the escrow agreement say about the processing time for cashiers checks?
Then take a look at the purchase and sale agreement. It should address what happens if closing does not occur on the closing date and should set forth the parties remedies.
As far as the prorations, if you don't have the HUD-1 yet, it doesn't sound like they've actually been calculated. Barring something to the contrary in the purchase and sale agreement, it would be reasonable to calculate the prorations as of the actual closing date, instead of the date set forth in the agreement. The actual closing date will be the date that money is released to the seller from escrow and posession is transferred to the buyer.
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