I am currently under contract to buy a condominium apartment in Manhattan. I signed the contract and in it I waived financing, meaning my buying the apartment is not subject to my obtaining a mortgage. The owner of the apartment has cancelled our closing date, which was March 13th. We now have another date to close for April 15th. My attorney is trying to get a letter from the owners attorney (the seller) saying "time is of the essence" for the April 15th closing. My attorney tells me
that if the owner fails to close on April 15th I can get my 10% deposit back. Is this true and if not, what recourse do I have against the seller for failing to close? My attorney told me that the apartment she (the seller) is moving to is being held up in Surrogates Court with a gardianship issue.
What does that mean?
Any advice would be appreciated.
I am currently staying with a friend and I don't want this to end up being months!
Thank you
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