Updated almost 6 years ago on . Most recent reply
Buyer can void contract?
I had a contract that was set to close on the 3/28/20, with a time is of the essence clause. COVID-19 his and the world stopped and my buyer refused to close. Because all NYS courts were shut, I couldn't enforce the contract (PSA). The PSA stipulated that one commercial lease had to be in effect at the time of closing. After dragging their feet for 3 months past the set close date, my lone commercial tenant went bankrupt and vacated their lease.
Does this let the buyer out of the contract even though they passed the original set in stone, closing date?