Legal Question in Real Estate Law in New York

Is there a time limit on how long an escrow can be held? We sold a home and have $2000 in escrow for the buyer to fix a roof and some windows. It's been 4 months and he still hasn't done it. We were supposed to have his estimate by a specific date written in the contract and did not receive the estimate until 2 days past that date. Would this be considered a breach of contract?


Asked on 11/21/09, 11:04 pm

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

Unless the due date was time of the essence, the answer would be no. Receipt of the estimate 2 days past due would not be a breach of the contract.

Mike.

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Answered on 11/27/09, 9:09 am


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