I have a contract to buy a SFH in Irondequoit. My lawyer tells me all the paperwork has been submitted to the "Referee" and we are just waiting for a closing date from them. From what I understand the "referee" is just the lawyer for the county. This property was purchased at a auction at the courthouse steps. Its funny because the contract clearly states "TIME IS OF THE ESSENCE" twice, indicating they want to get this done ASAP.
Has anyone else purchased this type of property and has experience in how long it might take to close?
“time being of the essence” is referenced in regular contracts, nothing specific to foreclosure.
About 30 days from the auction.
As a follow up I am finally seeing some motion on the closing. From what I understand the hold up is on the county attorney. They (the judge) usually assigns a trial attorney to the property, and since they are always doing trial stuff and in court the real estate stuff is way down on their list of to do's. You basically have to have your attorney hunt them down and get them in person to commit to a closing date. Its quite a painful process.
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