Who determines the close of escrow date: the buyer or the seller?
Answer
It is usually an agreed upon item in the joint escrow instructions. But the closing date is not always material, if the parties need more time to complete their obligations or if there are unforeseen delays.
Answer
Mr. Roach is basically right. Standard real estate contracts include a provision for the buyer to offer a closing date. If the seller doesn't like it, they can include a different date in any counter offer. As with any other terms of the contract, they can go back and forth with counter offers until someone accepts the last counter offer, or they walk away from the deal. I disagree, however, that the closing date is not always material. The closing date is ALWAYS a material term of the contract. The parties can mutually agree to extend it for any number of reasons, but if one is ready willing and able to close on the original agreed date, or any agreed modified date, there are no remaining contract contingencies, and the other person does not close on that date, it is a material breach of the contract.
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