Legal Question in Real Estate Law in New York

Have a house under contract in new york st. Ready to be closed on and the house under contract had a pipe break and water went down three floors to basement the ins co is going to pay to have repairs done. Do the buyers have any legal way of getting out of the contract?


Asked on 8/28/12, 7:55 am

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

Hard to say without seeing contract. For instance, if time is of the essence to the closing and the repairs will push the closing date beyond the time set in the contract - buyers may be able to cancel. Under normal conditions, probably not. This may also depend upon damage done. This is a response to an Internet question and the reply is for informational purposes only, and is not intended to be legal advice or as creating an attorney-client relationship. Different or missing facts could change the reply.

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Answered on 8/28/12, 1:43 pm


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