Home Selling in 12180>Question Details

Lisa, Home Seller in Atlanta & Troy New Y...

Is it true that when buying or selling a home in (Troy) New York, you dont know when the actual closing date?

Asked by Lisa, Atlanta & Troy New York Tue Feb 5, 2008

will be until last minute? Or is this a bad closing attorney brushing me off?

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7
What does your contract say? Do you have an agent? Usually the contracts around here are written that the closing is on or about, not exact unless the language of the contract says no later than.... The lender has to clear the purchaser to close and sometimes that takes 4-6 weeks from application (in NY State).
This is not uncommon.
1 vote Thank Flag Link Tue Feb 5, 2008
I would say yes and no. If there is a contract, it should specify the exact close date and all involved should work towards achieving that goal. There are extenuating circumstances that may warrant an extension of that date, but it should be clearly understood by everyone and especially being the seller you need to sign off on any changes to the initial contract.
1 vote Thank Flag Link Tue Feb 5, 2008
Hi Lisa.....
Great question! I am hesitant to generalize here, not knowing your specific situation, but a closing should occur within 45 days in a perfect world! The attorney's i typically work with in the area are communicative and efficient....Thanks, Ken.......
0 votes Thank Flag Link Wed Apr 16, 2008
Typical closing dates in New York are "on or about" which usually means anywhere from 30 days before to 30 days after the stated closing date.

It is much more civilized to purchase on other states.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Wed Mar 12, 2008
I recently had a closing that took place 2 months after the contract date. And I have had others that have fallen exactly on the contract date. The previous responses are correct in that the contract date is generally 4-8 weeks (depending on financing) after the contract is written. But when you are trying to get 3 lawyers to the same table on the same day - you tend to need to have flexibility! And a good sense of humor! Make sure you keep in touch with your mortgage provider - they are really the person who controls the date. Once you get clear to close (all of your paperwork is approved and appraisal is done) they will set closing and produce your HUD settlement statement (what you need to bring $$ to table).
Web Reference: http://www.HolliBoyd.com
0 votes Thank Flag Link Wed Mar 12, 2008
When a sales contract is written, it is usually 6-8 weeks in advance of the closing. The contract closing date is just a target date, something to aim for although common practice is to see the closing within a two week window of the orginal contract date It is very hard to predict that far in advance when the bank, title companies, lawyers and buyers and sellers will be ready. You should have a better indication within one week of the original closing date.. I don't think you have a bad lawyer, just one who needs to brush up on his communicating skills!
0 votes Thank Flag Link Wed Feb 20, 2008
Not unusual in NY. NY has "on or about" dates (30 days before to 30 days after) and 3 attorneys (buyer's, seller's and bank's) with which to coordinate. They don't usually give everyone a lot of time. I'd say my average experience might be 4 or 5 days....have had a 2 hour notice once. Sorry....it's not fun to do real estate in NY.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Tue Feb 5, 2008
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