Going through the TV lot hunting phase my TV Sales agent (also a lawyer) went thru the contract. Yes it’s one sided. Yes it favors the developer. Yes there is no sympathy for late closing. The deal is a take it or leave it deal. If you are late to close it’s $300/day to you. If they are late to close, yes it has happened, they get to put you in a motel and buy you one meal per day. Fair, of course not, but that’s the way it is. His land, his rules.
If you’re not doing a cash deal, make sure your lender knows how important the schedule is.
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