Legal Question in Real Estate Law in New York

Re: What's my rights!?

Depends on your contract.

I don't know of any RE contract that "expires". If you mean the motgage commitment and closing dates all past that doesn't necessarily mean the contract ended.

The Seller may have waived those dates while waiting for you and your bank. You need to read the mortgage contingency clause very carefully as it may require you to apply to another bank or to take some other action in order to protect your deposit. In most contracts, the Seller's only recourse is to keep your deposit.

However, if the mortg contin clause does not state anything about applying to another bank, you have no obligation to do so. READ CAREFULLY.

Re: What's my rights!?

I agree with Debra, that a reply depends upon the contract language and, in particular, the mortgage contingency clause. Many contracts state that if a mortgage is not obtained by a certain date, the buyer may get out of the contract if they give timely and proper notice. If the date has passed, you must again go to the contract language, as many contracts also state that unless proper notice has been given, the contingency is considered waived and the buyer is bound to the contract. There may also be default language in the Contract, which should cover your exposure if failure to get the mortgage and give timely notice binds you to close. This is a reply to an Internet question and the response is not considered as legal advice or to create an attorney-client relationship. Different facts may result in different answers.