Time Is of the Essence Clause

What is time is of the essence as it relates to real estate transactions? What happens in practice for re-sales vs new construction deals in NYC? We’ll explain what buyers and sellers need to know about the time is of the essence clause and show you a sample sponsor closing notice with time is of the essence language.

The Time is of the Essence Clause in NYC

By Sonja Gosine, Spokesperson at Hauseit® / May 18, 2018

What is time is of the essence as it relates to real estate transactions? What happens in practice for re-sales vs new construction deals in NYC? We’ll explain what buyers and sellers need to know about the time is of [...]

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