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Thread: holdover period

  1. #1
    shenla Guest

    Angry holdover period

    We signed a contract to buy from sellers in May. The sellers had asked for a holdover period after we close with them. We agreed to a max number of days and if the sellers exceed those days, they would incur additional penalty costs. But, now that we are negotiating the final closing day. The sellers say that legally that if they give us the keys by midnight, they consider that giving us posession and that day is not a holdover day. Is this true in NY?
    Thanks in advance for any help!
  2. #2
    HomeGuru is offline Senior Member
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    What does your contract state and where is your Realtor or real estate attorney when you need one?
  3. #3
    shenla Guest

    holdover period

    well, our contract does not state the exact timng for a holdover day. so, our seller claims that legally 12 midnight is considered fine with him as giving us posession (therefor not a holdover day) even though we won't be able to move in till the next day.
  4. #4
    HomeGuru is offline Senior Member
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    Whatever.

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