Legal Question in Real Estate Law in New York

Closing date was set May 14, 2010 & than Owner informs all they cannot close at this time because his wife needs to have medical treatments that will continue into Aug. 20010.

Can a Owner change the condition of the contract? Contracts state on or before April 15th 20010

which means he must close by May 15th 20010. ( straight forward contract with no conditions)

What happens when an Owner does not close & honors their contracts?

Can they be force out of the house?

What about the Buyer? Money invested between inspection, bank fees, attorney fees. $6,500 tax credit etc.

Buyer also sold their home in Jan & they are homeless..What about their rights..

What about the Realtors rights?


Asked on 5/07/10, 6:47 pm

1 Answer from Attorneys
Debra Palazzo Law Offices of Debra Palazzo, LLC

Seller can not change a material term of the contract such as the closing date.

Your attorney must send a "time is of the essence" letter. If they still refuse to close you can bring an action for "specific performance" to force the sale/damages.

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Answered on 5/15/10, 10:10 pm


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