Legal Question in Real Estate Law in New York

buyer terminating contract

How can a buyer get out of a contract that has been dragged out since March 2006? We were suposed to close June 30, 2006, but out of good faith we changed it to July 30, 2006, but we never intialed this change. Can we get out of this contract? We seem to be told we are going to close the end of June, then it was begining of july mid july end of july begining of August and so forth. My family has been split up for over a month now due to space. My husband is at his mothers with my son who is 5 and starting school soon. I am staying with my daughter at my mothers house. Please can you help us?


Asked on 8/24/06, 7:23 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: buyer terminating contract

You have provided no facts on why the closing has not taken place and why it has continued to be prolonged. Additionally, I have not seen the Contract and what it provides covering this situation. I suggest sending a "Time of the Essence" letter, by certified and regular mail to the seller, informing the seller that if the closing does not occur by a specified date (usually 10 days from receipt of your letter, but you need to check local law as to what is the minimum necessary time period), that you are terminating the contract and demand the return of any funds paid on the contract. This is a response to an Internet question and the reply is not to be considered as legal advice or as creating an attorney-client relationship. Note that missing or different facts could change the response.

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Answered on 8/24/06, 11:50 am


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