Central Islip, NY asked in Real Estate Law for New York

Q: I am in contract to buy a home in NY, the seller has a Medicaid lien on the title and is having trouble clearing it.

My question is, how long do I have to wait to cancel the contract and get a refund on my deposit?

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2 Lawyer Answers
Elaine Shay
Elaine Shay
PREMIUM
Answered
  • New York, NY
  • Licensed in New York

A: Generally, the contract of sale between the parties determines this issue and establishes the means of objecting to delay and demanding the return of the downpayment. Therefore, the best place to start in obtaining answers to your questions should be with the attorney you retained to represent you in the purchase of the property.

Michael David Siegel
Michael David Siegel
Answered
  • New York, NY
  • Licensed in New York

A: Until the closing date in the contract plus 30 days. On the 20th day, your lawyer should mail a time is of the essence demand.

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