Legal Question in Real Estate Law in New York

Re: ''on or about'' closing date

Mr. Groezinger is correct - you need an attorney to review the contract and other relevant factors to get a good idea about when you are obligated to close. You are also correct - thirty days is generally regarded a reaosnable time within which to perform your obligation to purchase under a contract that does not specify a firm closing date.

Re: ''on or about'' closing date

Case law has interpreted on or about to be about 30 days. However, your situtation is complex and fact dependant enough that the rest of your question cannot be adequately answered in a bulletin board service.

Good Luck

RRG

Re: ''on or about'' closing date

A September 21, 2003 article in the New York Times discusses in fuller detail than can be offered in this space, the implications on closing date deadlines in the phrase "on or about" or alternatively "on or before" or the phrase "time is of the essence" (which means that closing date set forth is the exact closing date) in contracts for sale of a home. This New York Times article is by Jay Romano, and the title of the article is:

YOUR HOME; When Time Is a Factor in a Sale

The article can be downloaded (for a fee) from tghe New York Times' website, or can be downloaded without charge by doing the following AOL search:

"on or about" AND contract AND sale AND home AND "new york"