Legal Question in Real Estate Law in New York
Buyer entered into a short sale contract for 180 days. Seller set up closing date on last day of contract but could not give clean title. Buyer refused to adjourn closing date and seller refused to return 10 % deposit stipulating that seller had right to adjourn closing date up to 60 days. Please advise if this is legal.
Asked on 12/30/09, 12:26 pm
2 Answers from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
To render an opinion, I need the exact language in the contract concerning the closing date.
Mike.
Answered on 1/04/10, 12:34 pm
Savyon Grant
Law Office of Savy Grant
It really matters what the terms of the contract are. Either way they would be subject to shortsale approval. Seller keeping the deposit doesn't sound right!
Answered on 2/17/10, 9:51 pm
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