Escrow delayed ?

General Real Estate Investing
1

I bought a townhouse in Orange County, California. It’s a new construction to be finished later this year. Escrow is in December 2008.

I signed an amendment to change the clerical error in the contract. They slipped an amendment saying that escrow will close 7 days later than signed. I didn’t notice this until after I signed. I should have read carefully.
Builder emphasized only the clerical error was modified by mouth.

Can’t the builder catch up 5 days of workday in the next 8 months? Or is this some sinister trick that will cost me later?

I don’t mind moving in one week later, but I find this tactic disturbing.

Did the builder cheat me? Builder is Brookfields.
Thanks.

2

I wouldn’t sweat it. The builder is probably just trying to manage cash flow or something along those lines. Maybe he prefers to close at the beginning, middle, or end of a month. I close all my deals in the first week of a month for example.

3

In the ‘big scheme of life’, what is the harm done if the closing is seven days later? You will pay 7 days less in accrued interest, 7 days less taxes, and 7 days less insurance.

Have you asked the builder “why”? Certainly, if you have a townhouse in construction, you have an on-going relationship/dialogue with the builder…?

I have found a lot of mysteries are solved simply by asking the questions…

Keith