Anyone know NYS law about closing dates, time is of the esssence?

Asked by Elm, Albany, NY Tue Dec 2, 2008

We were originally going to close on the 4th of December. When the interest rates dropped we went with another bank and this has pushed the closing to the 14th. The seller will not agree to give us an extension. People have told us there is a nys law, time is of the essence, that might give us the additional week. Any suggestions.

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