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You should have the contract reviewed by an attorney for validity. Many contracts are poorly drafted or improperly signed even when drafted by an attorney. An invalid contract may be your only possible solution. It would be worthwhile to have the contract reviewed as soon as possible to determine if your deposit can be saved. If the contract is valid then you are bound by the agreement. In that case perhaps the attorney could negotiate with the other party on your behalf to lessen the consequences.
Reminder: A contract is executed in order to create a legal obligation to honor an agreement. One of the main purposes is to prevent one party from "backing out" without suffering consequences. Generally, you can't get out of the contract unless there is an escape clause. For example: "This offer is contingent upon a satisfactory purchase and sale agreement acceptable and approved by the buyers attorney within 14 business days"
What else can I help you with?
Who excutes a Texas real estate contract?
A real estate contract may be executed by the buyer and seller; trustee; attorney; builder/contractor. Any party to a real estate contract may execute a real estate contract.
What would be a real estate example of discharge from contract by agreement?
If both parties agree that they do not want to pursue the contract for the purchase and sale of real estate they can mutually agree to void the contract.
Is a real estate contract binding if no deposit is made?
Yes, a real estate contract can still be binding even if no deposit is made, as long as both parties have agreed to the terms and conditions outlined in the contract.
Is a Florida real estate contract null and void if the seller dies?
Generally, if an offer was accepted and signed the decedent's real estate is subject to the contract and the estate representative can complete the sale once they have been appointed.
Will a real estate contract be vaild if the owner dies before closing in Georgia?
The contract will be valid. Generally, the death of the seller will delay the closing until a probate procedure is filed and the court allows the sale of the real estate by the estate representative.The contract will be valid. Generally, the death of the seller will delay the closing until a probate procedure is filed and the court allows the sale of the real estate by the estate representative.The contract will be valid. Generally, the death of the seller will delay the closing until a probate procedure is filed and the court allows the sale of the real estate by the estate representative.The contract will be valid. Generally, the death of the seller will delay the closing until a probate procedure is filed and the court allows the sale of the real estate by the estate representative.
When is a contract for real estate considered executed?
Upon both the buyer and the seller signing the contract.
Where can i find a Real-estate contract termination and mutual release form?
Where can I find a termination of real estate and earnest money form
Are you under contract in real estate with no document?
If the parties haven't executed a contract signed by both parties then you are not "under contract".
Is there are rescission period for a real estate rental contract in California?
Yes
When is a real estate contract valid?
When it has been signed by the buyer and seller.
What is real estate wholesaling?
Wholesaling is putting a property under contract and assigning that contract to buyer for a fee.
Can you get out of a real estate contract within 72 hours?
You need to read your contract in order to know what your rights and obligations are.
