Do we have legal rights with the contract that was signed by both buyer and seller??
2006-10-27 03:22:12 · 10 answers · asked by band517 2 in Business & Finance ➔ Renting & Real Estate
Some of the points above are right,firstly Contract was signed by all parties,(Is there any deposit?And was the deposit being accepted by the sellers?)As far as I know if a sales contract is signed and there isnt any form of monies (deposit)involve it is not valid.
If the sellers are willing to sell the property to with certain clause.(not changing the selling price,look at the clause,engage a lawyer to help u.)
It depends to what entend the contract has gone through.
2006-10-27 06:23:13 · answer #1 · answered by curiousmode 3 · 0⤊ 0⤋
yes, basically you have 2 rights. (1) you can insist that the contract be honored as written and signed. The seller cannot change any portion of the contract without your approval. (2) You can let the seller out of the contract, but he has to return your ernest money and you can use the contract to have him repay you for all inspections, etc that you had to pay for before you let him out of the contract.
2006-10-27 03:34:43 · answer #2 · answered by bettyswestbrook 4 · 0⤊ 0⤋
It really depends on where you live.
If you are in NJ, the buyers and sellers signatures signal the start of the attorney review period, and the contract may be changed by agreement of both parties or cancelled by either party without penalty during this time.
2006-10-27 05:18:25 · answer #3 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
It's like messing with drugs: Just say, "No!" Unless you agree to the changes, they are out of luck and must abide by the original agreement. If they refuse to do so, you can sue for specific performance.
This assumes that you are in the US. If you are in the UK there is no binding agreement until you have exchanged contracts.
2006-10-27 03:33:37 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
yes, the seller can not back off the deal unless the bayer agree, if you as a buyer want the house they have to sell it to you...if it was done by a realtor they have to do all the dealing or talk to your lawyer
2006-10-27 03:39:32 · answer #5 · answered by Rosie 3 · 0⤊ 0⤋
You don't' have to agree to the change at all. Just tell your Realtor. If they decide not to go through with the contract, you can recover the damage from them.
2006-10-27 03:32:03 · answer #6 · answered by spot 5 · 0⤊ 0⤋
Yes, you have legal rights. But sometimes going to court to enforce them is not worth it and can drag on. If they decide not to cooperate with the contract all sorts of problems can arrise.
If their change is reasonable you should consider it. If not, talk to your lawyer and let him deal with their lawyer.
2006-10-27 03:31:38 · answer #7 · answered by baxterstuds 2 · 0⤊ 0⤋
The only way they can amend the contact is to have their attorney write up the changes and both parties sign it. If you don't agree to the changes, they are out of luck.
2006-10-27 03:25:14 · answer #8 · answered by Anonymous · 0⤊ 1⤋
really depends on what clauses are written into the contract
2006-10-27 03:34:38 · answer #9 · answered by dogpatch USA 7 · 0⤊ 0⤋
two thoughts on this......once it is signed it is legal.....or...once it is recorded it is legal.....you have the right to back out if you don't like the changes.
2006-10-27 03:26:17 · answer #10 · answered by debbie2243 7 · 0⤊ 1⤋