New York  |  Real Estate Law

Legal Question

Asked on: 9/29/04, 11:38 am

Time of the essence letter

I am currently in contract to sell my home to a family who has a 60 day contract effective 8/8/2004. The broker whom I hired is a friend of this family, and he works closely with the mtge broker, lawyer etc, who are assisting this family to qualify for a loan. They are unable to give me a closing date for my home in NYC. I have an attorney who overlooked a contingency in the contract that says the buyers will not close until they sell their current home. My attorney claims this was an oversight on his behalf. I have to close on a newly built house in Florida, which is completed and the builders set a date for closing in Fl on October 12, 2004. I am very scared that I would not have the funds available to close in time, and I could loose my $20,000 down payment along with my house if I don't show up for closing in Florida. My attorney in NYC is nonchalant to this situation and I feel that I'm not being represented properly - because these people (the broker and mtge lender, including the buying family) are getting away with murder because they are avoiding my calls and not giving any confirmation as to why they have not set a date for closing in NYC. Can a Time of the Essence letter work on my behalf?

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

125 Answers given in the last few hours.

8663 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search