What Can a Seller Do When a Buyer Is Unable or Unwilling to Close as Scheduled?

When real estate is sold, the contract typically specifies that the closing will take place “on or about” a specified date. These “words of art” mean that the specified date is merely a “target date” and that the parties intend to close sometime in its vicinity; furthermore, each party will be entitled to an adjournment for a “reasonable time,” if needed, which New York courts have consistently defined as thirty (30) days.  

By |2020-03-31T20:38:38+00:00October 30th, 2015|Real Estate|Comments Off on What Can a Seller Do When a Buyer Is Unable or Unwilling to Close as Scheduled?

Closing In: The Real Estate Closing Date

One of the most important terms of a real estate contract is the “closing date.” This is the date that the purchaser remits the balance of funds due and the seller delivers the deed and gives possession of the property to the purchaser.

By |2020-07-27T13:30:41+00:00October 16th, 2014|Real Estate|Comments Off on Closing In: The Real Estate Closing Date
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