What are the laws on the closing of a house?
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What are the laws on the closing of a house?
I own a house and someone put a bid on it and I accepted. Now they are trying to get me out weeks before I’m ready. Do I have a certain amount of time to be out by?
Asked on December 10, 2012 under Real Estate Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
This is not determined by law but by contract: you have to close (and move out) on whatever closing date was in the offer you accepted. If there was no date, then this is something you and the buyer have to mutually agree to; if you can't agree to a date, then a court would most likely consider that there is no agreement to sell (that is, you are not bound by the offer), since there was no "meeting of the minds" as to a critical term of any home sale: the closing date. If there is a closing date in the offer you accepted, then that's the date you have to get out by: on the closing date, the house belongs to the buyer, and you no longer have any right to remain there. (You can offer to rent from him for awhile, if you need more time, but it's up to the seller whether to agree to rent to you or not.)
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