Legal Question in Real Estate Law in New York
Is my lawyer dropping the ball on my closing date? I asked for a specific date one month ago for this week, I have all my commitments done on my end. The seller is delayed on getting the final docs to my lawyer, seems like he didn't get a commitment date from them? I've made calls every day for a month to push this through.
1 Answer from Attorneys
I believe that you are leaving a lot of information out of your question. I suspect there is a closing date written in your contract. I also suspect that the closing date is "on or about". Generally, a closing date in a contract that is "on or about" means that the date is not essential or material to the terms of the contract. Your attorney would have to send a time of the essence letter after the "on or about" closing date passed. The specific date on the time of the essence letter must be reasonable. Generally, an additional 30 days for a time of the essence date is reasonable.
I glean from your question that the purchasers may be having trouble getting a commitment for a loan from his or her lending institution. It seems that your attorney is giving the purchasers extra time to obtain the loan. This is normal, reasonable and probably helpful to you.
Calling your attorney every day for thirty days will not push the closing date faster. Instead, it is probably very aggrivating to your attorney. And after a while, your attorney will discount the importance of each daily telephone call. When your attorney does have news he or she would probably give you a telephone call.
Mike.