"on or about" real estate closing question

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amother

Lawngreen

Fri, Jun 12 2015, 11:26 am

What does the term "on or about mean? Who does it protect, and what are the ramifications of this clause? Thanks.

amother

Goldenrod

Fri, Jun 12 2015, 11:29 am

It gives you up to 30 days post the specified closing date to close without being in default of the contract.

It protects both the buyer and seller in case either one isn't ready to close by the agreed upon date.

BTW, I'm a loan officer (mortgage broker to the laymen) for 15 years IRL.

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