Making the Case for ‘Time Is of the Essence’ Closings

The circumstances attending each purchaser’s or seller’s failure to close on the Time Is of the Essence closing date is always unique, and this has resulted in an innumerable variety of judicial decisions applied to ever-changing real estate scenarios.

11 minute read October 31, 2025 at 11:09 PM
By
Adam Leitman Bailey and John M. Desiderio
Making the Case for ‘Time Is of the Essence’ Closings

As the authors noted in our first article on Time of the Essence (TOE) Closings, “real estate closings may be the most basic and common real estate experience, but the familiarity ends once a provision of the contract of sale has been breached.”

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