"On or About" Definition
hey! when a real estate contract in NY specifies a closing date of “on or about” — what is the typical/customary amount of time that provides to set a closing date?
hey! when a real estate contract in NY specifies a closing date of “on or about” — what is the typical/customary amount of time that provides to set a closing date?
This language gives either side the right to delay the closing upto 30 days. Beyond that point, the buyer could sue to force the seller to close or, if it is the buyer delaying, the seller could walk away with the deposit.
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