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I went into contract on a new conversion condo unit on July 1st. My contract had a contingency that I could rescind and get my down payment back if the sponsor could not close prior to Jan 1st, 2010. With 30 day notice does that means I need a notice to close by Dec 1st or I can walk? This is only a couple of weeks away and I’m pretty sure that they’re not going to have their paperwork in order in time. Since I’ve been in contract all the units next to mine have had their listing price reduced to the price that I had to negotiate the seller down to and I was considering trying to renegotiate if indeed I don’t get a notice of closing by Dec 1st to get a better deal. I’d like to ask for the sponsor to pay for the transfer taxes and their own attorney’s fees. Is it unheard of to reopen the contract to negotiation at this point? Does this seem reasonable in this climate?