Real Estate Law
Have Real Estate Law Questions? Ask a Real Estate Lawyer.
Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.
1. Your suggestion does not bind you. You need to sign (or initial) the changes to make it binding;
2. If the revision is considered material, then you are not legally obligated to the revision until you have assented in writing to this chage;
3. You may always continue negotiating with P1 presuming they agree to the conditions that you are proposing and counter-proposing;
4. At this point, it appears that you may negotiate with P2 as a "back-up" contract as long as there are no provisions in the original contract with P1 that would preclude you from accepting "back-up" contracts.
Hope this helps.