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Hamptons.com
November 4, 2013

Finding The Able Buyer: Hamptons Real Estate Brokers Avoid Sales Disasters

John A. Viterittiby John A. Viteritti
in Real Estate
Home Real Estate

When it comes to the multi-million dollar homes in the Hamptons real estate market, issues not addressed at the proper time and in the proper manner may prove problematic in selling and buying a home. One such issue has to do with property transfers. Typically, when the real estate broker is representing the seller, the broker establishes at the listing appointment the terms the buyer must satisfy to meet the definition of “ready, willing, and able buyer.” The broker should also establish the seller’s obligations to the buyer.

Previous articles have covered the subjects of mortgage contingencies, certificates of occupancy, etc. One that is no less critical is when the purchaser will be able to pay the sum of money due at closing and when the seller will be prepared to surrender occupancy. A full-price offer, contingent upon the sale of the buyer’s existing property, may not be as desirable as a lower price offer where the ability of the buyer to close is not contingent on the sale of their existing property. Conversely, a seller whose ability to surrender occupancy is contingent upon finding a replacement property may not be an attractive prospect to a purchaser.

This issue will be incorporated in the contract, but the broker addresses it before the attorneys become involved and the contract is prepared. Failure to address this critical issue could prevent the transaction from moving forward. The language of the contract should only formalize what the parties to the contract understood and agreed to at the time of offer and acceptance.

Ordinarily, the contract will specify where and when the closing, or transfer of title, will take place. For instance, the closing would take place at the seller’s attorney office on or about a particular date. The phrase “on or about” implies that if, for “good cause,” either party were not able to close on that date, the other party would agree to close on another date without considering the party requesting the postponement to be in breach of contract. This is the preferred arrangement if it is not essential that either party must close on a specific date. For example, the seller has to close on a property he is purchasing with the proceeds of the sale of his existing home the very next day. Or, if the buyer has to vacate their existing property on a certain date and would have nowhere else to go. Under these circumstances, the contract may read, “time is of the essence.” This means that if either party were not able to close on that date, the other party could hold that party in breach of contract subject to all of the consequences as stated in the contract for breach.

Obviously, this is not a situation either party would want to confront. Whether the situation can be resolved will often depend on the circumstances and the willingness of the parties involved. What is clear, the broker plays a vital role in preventing this situation from developing if these issues are clarified before bring the seller and buyer together.

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LOCAL EVENTS

Events

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Life & Figure Drawing with instructor Bruce Lieberman

June 4 @ 05:30 PM - July 16 @ 08:30 PM
The Nathanial Rogers house, 2539 Montauk Highway Bridgehampton NY 11932
04
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04
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04
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A Monk’s Guide to Health, Happiness and Positivity

June 4 @ 06:00 PM - June 4 @ 08:30 PM
The HUB, 2183 Montauk Highway, Bridge Hampton, NY
05
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16
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Mazel Toned

June 5 @ 09:00 AM - June 16 @ 09:45 AM
The Hampton Synagogue
05
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5 Rosés and 5 Courses: An Almond and Channing Daughters Collaboration

June 5 @ 06:30 PM - June 5 @ 10:30 PM
Almond Restaurant 1 Ocean Road, Bridgehampton, NY 11932
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Macari Vineyard Wine Dinner at R.AIRE

June 5 @ 06:30 PM - June 5 @ 09:30 PM
259 East Montauk Hwy, Hampton Bays, NY, 11946
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Princess Katherine Of Serbia Attends Lifeline Benefit At Le Cirque

Princess Katherine Of Serbia Attends Lifeline Benefit At Le Cirque

  • The reopening of the Sunset Theater marks a new chapter for a historically cherished cultural venue in Westhampton Beach, originally built in 1927. After what Founder and Managing Director Inge Debyser described as an extensive three-year renovation, the beloved movie theater officially reopened its doors at 2 Brook Road on Friday, April 25.⁠
@sunset.theater.whb⁠
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Read the full article at Hamptons.com (Link in Bio)⁠
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#sunsettheater #hamptons #westhamptonbeach #movies #film
  • Kicking off Memorial Day weekend, The HUB—short for Health, Unity, and Beauty—launched its summer season with an impressive soirée on Friday. ⁠
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Founders Michael Catalano and Toni DeMauro, along with creative and event leads Alex Vinash and Billy Folchetti, welcomed 300 Hamptonites into the magic of their bold new project.⁠
@hub_hamptons⁠
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Check out the full gallery at Hamptons.com (Link in Bio)⁠
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📸: Rob Rich/SocietyAllure.com⁠
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#hamptons #thehub #fashion #recreation #bridgehampton
  • Check out the Top Hamptons Events This Weekend!⁠
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🍻 Back to the Bays x Kidd Squid: Brew for the Bay Release Party!⁠
📅 Friday, May 30, 2025⁠
🕓 5pm
📍 Kidd Squid Brewery, 11 Spring St, Sag Harbor, NY⁠
⁠
Join us as we toast to conservation! 🌊🍺 Proceeds support marine restoration through @ccemarine Back to the Bays Initiative.⁠
⁠
🔗 [Click Link in Bio for Event Info]⁠
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🎶 Sunset Serenades: A Hamptons Summer Celebration⁠
📅 Fri, May 30th -31st
🕖 7pm⁠
📍 Various Hamptons Venues⁠
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An intimate concert featuring TH·FM’s Salon Orchestra, soprano Greer Lyle & more — conducted by Logan Souther. 🌅🎻⁠
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🔗 [Click Link in Bio for Event Info]⁠
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🏆 Celebrate Local Legends: Howard & Kenny Wood⁠
📅 Fri, May 30, 2025⁠
🕔 5pm⁠
📍 The Clubhouse, 174 Daniels Hole Rd, East Hampton, NY⁠
⁠
Join the party honoring Suffolk County Hall of Fame icons! 🎉⁠
⁠
🔗 [Click Link in Bio for Event Info]⁠
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🍍 Talkhouse Encore Launch Party⁠
📅 Sat, May 31, 2025⁠
🕒 3pm – 6pm⁠
📍 The Stephen Talkhouse, Amagansett, NY⁠
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FREE entry, tequila pineapple cocktails, music, bites & giveaways! 🍹🎶⁠
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🔗 [Click Link in Bio for Event Info]⁠
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🧱 CMEE’s 8th Annual Block Party⁠
📅 Sat, May 31, 2025⁠
🕙 10am – 12pm⁠
📍 CMEE, Bridgehampton, NY⁠
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A FREE morning of crafts, rockets, chalk art & summer camp samplings! 👧🧒🎨⁠
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🔗 [Click Link in Bio for Event Info]⁠
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😂 Saturday Night Comedy at Sticks X Stones⁠
📅 Sat, May 31, 2025⁠
🕗 8pm⁠
📍 Sticks and Stones Comedy Club, Southampton, NY⁠
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NYC’s top comedy club talent hits the Hamptons! 🎤🤣⁠
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🔗 [Click Link in Bio for Event Info]⁠
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🎬 Sunset Theater: Karate Kid: Legends⁠
📅 Opens Fri, May 30, 2025⁠
🕐 Various Times⁠
📍 Sunset Theater, Westhampton Beach, NY⁠
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Don’t miss the latest chapter in the Karate Kid saga! 🥋⁠
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🔗 [Click Link in Bio for Event Info]⁠
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🍰 Afternoon Tea at The Baker House 1650⁠
📅 Sun, June 1, 2025⁠
🕝 1:30pm – 4pm⁠
📍 181 Main St, East Hampton, NY⁠
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Enjoy champagne, sweets & elegant tea service in a historic setting. ☕🍾⁠
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🔗 [Click Link in Bio for Event Info]⁠
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Check out more events at Hamptons.com⁠
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#hamptons #weekend⁠
  • Nearly two years after its debut, El Verano offers a taste of upscale Mexican cuisine in a setting inspired by the charm of vacation summer homes in Mexico. Customers enter a vibrant space filled with beautiful greenery and colorful decor as they enjoy dishes rooted in the heritage of acclaimed chef Julian Medina.⁠
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Medina grew up in Mexico City, where his love for cooking first began. In pursuit of his career, he moved to New York City, where he graduated from the French Culinary Institute. Noticing a lack of refined Mexican dining in Southampton, Medina created El Verano to bring the bold flavors of his roots to the area. Blending Mexican coastal charm with rich culinary traditions, El Verano brings something new to the Southampton dining scene.⁠
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Medina shared some of his signature dishes, journey through the cooking field, and highlighted El Verano’s fresh and locally sourced ingredients that shape each creation.⁠
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Read the interview at Hamptons.com (Link in Bio)⁠
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#elverano #dining #southampton #mexicancuisine
  • NAMIRO made its Southampton debut in style on May 17 with a ribbon-cutting ceremony and VIP cocktail preview, joined by Mayor Manger. Guests enjoyed signature bites and high-energy vibes at this invite-only event.⁠
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Conceptualized by music and hospitality heavyweights, NAMIRO Sushi is more than a restaurant—it’s where sleek design, elevated Asian cuisine, and nightly celebration collide. Located at 76C Jobs Lane in Southampton, NAMIRO opened its doors to the public on May 21 and is open seven days a week, year-round.⁠
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📸: Rob Rich/SocietyAllure.com ©2025 ⁠
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Check out the gallery at Hamptons.com (Link in Bio)⁠
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#namirosushi #hamptons #southampton ⁠
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  • It’s Memorial Day Weekend in The Hamptons! 

So many pop-ups, collaborations, and more! 

🎶 Chloe Caillet & Kaytranada at The Surf Lodge
📍 183 Edgemere St, Montauk, NY
📅 Saturday, May 24 | 🕓 Doors at 4PM

🔥 SlowFires NYC x Ruschmeyers Pizza Pop-Up
📍 Ruschmeyers, 161 2nd House Rd, Montauk, NY
📅 Fri, May 23 – Sat, May 24 | 🕓 4–9PM

🎨 Dolce Vita Pop-Up in Southampton
📍 95 Main Street, Southampton, NY
📅 Fri, May 23 – Sun, May 25 | 🕚 11AM–3PM
Dolce Vita x Down the Street’s Summer Art Series: view new art drops, shop, and enjoy seasonal treats.

👜 Lands’ End x Round Swamp Farm
📍 Round Swamp MTK – 71 S Elmwood Ave, Montauk
📍 Round Swamp BH – 97 School Street, Bridgehampton, NY
📅 Fri, May 23 – Sat, May 24 | 🕣 8:30AM–6PM
Get a custom tote with any $200+ purchase—1 per customer.
📸 AD: Ryan Woehler | 📷: Chris Klinge | 👗: Jenny Huebner | 📸 Asst: Dan Kleinschmidt

🎤 Hello Brooklyn at The Stephen Talkhouse
📍 161 Main St, Amagansett, NY
📅 Saturday, May 24 | 🕥 10:30PM
It’s not a true Hamptons weekend without a night at Talkhouse! Dance the night away with Hello Brooklyn.

🍪 Levain Bakery X John’s Drive-In
📍 Levain Bakery, 354 Montauk Hwy, Wainscott, NY
📅 Starts May 23 | 🕗 8AM–5PM
Thick, gooey Levain cookies + classic scoops from John’s = summer magic.

🪩 Silent Disco Dance Party at Guild Hall
📍 158 Main St, East Hampton, NY
📅 Sunday, May 25 | 🕗 8–11PM
Dance in the garden!

🪁 Kites for Kids Benefit at Main Beach
📍 101 Ocean Ave, East Hampton, NY
📅 Saturday, May 24 | 🕑 2–5PM
Decorate & fly a kite—all proceeds benefit the Eleanor Whitmore Early Childhood Center.
📸 Photo Credit: John Musnicki

🍻 Jon Divello at Kidd Squid
📍 11 Spring St, Sag Harbor, NY
📅 Sunday, May 25 | 🕔 5–7PM
Live music + fresh brews = perfect weekend vibes.

🌸 Garden Club of East Hampton’s Garden Party
📍 Mulford Farm, 10 James Lane, East Hampton, NY
📅 Friday, May 23 | 🕕 6–8PM
Enjoy hors d’oeuvres, drinks, and a Silent Auction featuring art, books, and more.

🌿 Jenni Kayne’s Hamptons Kickoff
Celebrate summer with in-store events all weekend long at the Amagansett Store and the Southampton Store!
📸 Photo Credit: Holly Sarah Burgess

Tap the link in bio for info!
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