Newsflash: CO Denied, Seller Wants More Time To Move

New home buyer here. Closing date was 6/15/17. We have all our ducks in row. 6/1/17 we find out that the seller has temporarily failed CO. Something was built without permit. He says the permits have been acquired and that the inspection will be carried out on 6/15/17.Add to that, their own home buying deal fell through so they do not have a house to move out to. Together, these two things mean that our closing will be delayed, likely pushed to end of June. My apartments move out date is 6/29/17.I am really at my wit’s end here. Best case scenario is that they pass inspection and we do the closing end of the month. Worst case scenario, they keep delaying it on the pretext of failing inspection till they find a house of their own.All this means that I will lose out on my locked interest rate and also have to pay a premium to extend my apartment lease by a month.What recourse do I have? It is a single family 1960s house.



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