Legal Question in Real Estate Law in New York

I am getting the run around on getting a closing date for my home here. My attorney and realtor "swear" they're doing all they can. I was told, in August, we would go to closing "On or About" Sept. 15th. We rented PODS to be delivered for moving. We went out west, put $5,000 down on a home. We still have no date set. If we don't close by Oct. 8th we stand to lose the money AND the house. My attorney and realtor now tell me that "on or about" means thirty days after, but we never were told this. We would not have rented PODS bought the new place relying on this so called closing date the 2nd one was picked up Tuesday leaving us for all intents and purposes in an empty house. Now we are told closing is Tuesday, oops just informed it MAY now be Wednesday. My wife had a major heart attack last year resulting in muscle damage, stents and implanted pacemaker, so all this stress is not doing her any good at all. Do we have any recourse against anyone? My realtor and attorney claim it is all the future owners bank and attorney's fault.


Asked on 9/30/10, 5:39 pm

1 Answer from Attorneys
Glenn Reichelscheimer The Law Offices of Glenn A. Reichelscheimer

You should note that a 2-3 week delay is not unreasonable and the wording "on or about" on your contract means that it could be that exact date or near to it (within 30 days is considered a reasonable time frame). Realistically, banks require a large amount of documents to close and produce a large amount as well. It is not unheard of that the bank's requirements delay closings on a regular basis. Your attorney may be spot on with his characterization of the purchaser's bank causing the delays, nevertheless, I dont see how you will lose your money from this closing if you are in contract and neither side has set a "time of the essence" deadline for cancellation. Lastly, if the delays are not due to any negligence on the part of your attorney or realtor, you have no recourse for a law suit as it was wholly your decision to purchase another property prior to closing on the current one.

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Answered on 10/07/10, 9:22 am


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