Legal Question in Real Estate Law in New York
expired contract to purchase property
i went to contract with a builder on 100x100 ft lot that had to be subdevided off my existing property. the builder
was to assume all costs. the contract was good for 90days.it expired on sep18,2002. i have a purchaser who wants to buy all the property includeing the 100x100 and is willing to close now. i returned the origional buyers check and a letter telling them the time had expired. they returned trhe check and refuse to accept the contract is cancelled. how long am i legally bound to the orig buyer and can they sue me if i sell to new buyer
Asked on 10/11/02, 5:56 pm
1 Answer from Attorneys
David Slater
David P. Slater, Esq.
Re: expired contract to purchase property
While they may sue, since the contract expired I see no liability on you. Sell it.
Answered on 10/11/02, 10:03 pm