Legal Question in Real Estate Law in New York

Real Estate Contract Verbage

In my contract for the sale of my house in New York it statesthat the "Closing shall take place at the office of {Lawyer's Name} at {time} o'clock on {date} or, upon reasonable notice (by telephone or otherwise) by Purchaser, at the office of {Lawyer's Name}." My question is this: Is the date on the contract a firm date for closing or des it allow a "reasonable" amount of time for the closing to take place? What is "reasonable?"


Asked on 7/16/00, 10:40 pm

1 Answer from Attorneys
Jason Stern Law Offices of Jason Stern

Re: Real Estate Contract Verbage

Look to the contract to see what it says about extending the closing date. Regardless, the parties should be able to agree on a closing date that is convenient and usually will consent to a postponement if reasonable. The word reasonable is self-explanatory. 1 week is usually reasonable. 1 year is usually not. Courts like to phrase it "whether a reasonable person is similar circumstances would consider the time excessive." If you have further questions, call

Jason L. Stern

212.208.2470

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Answered on 9/09/00, 4:17 pm


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