Legal Question in Real Estate Law in New York

Purchased a worn down property for 30,000.00 through auction on Feb 20th,2011 and was told we had to close by march 3rd. We are still waiting for Wells Fargo to close. Is there any way to get them moving. We put down $2500.00 and have signed 3 extensions wiht the auction company.Williams + Williams.Thanks


Asked on 5/18/11, 12:00 pm

1 Answer from Attorneys
Kevin Connolly Kevin J. Connolly

You have not indicated whether this is a mortgage foreclosure. If that is the case, then you have the right to apply to the court for an order compelling the referee to execute and deliver the deed (on payment of the balance). You're getting close to 90 days here, and I would not let it go to 5/20 without sending a strong demand letter to the referee and plaintiff's counsel.

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Answered on 5/18/11, 3:31 pm


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