We do have on or about closings and the seller or the buyer can delay the closing date. It is maddening!
As a NY refugee, I can tell you the “on or about” clause is absolutely true. However, the contract can be written a “time of the essence” clause which pretty much locks in the closing date.
The fees in NY are ridiculous with some counties charging $19.50 per thousand for transfer tax and the people involved in a typical transaction are the buyer’s attorney, seller’s attorney, lender’s attorney, title company, buyer’s agent & seller’s agent.
Doing business in NY was not fun and I’m glad I got out!
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