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Category: Real Estate Law
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Experience:  9+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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Can the seller of a home negate a signed contract or change

Customer Question

can the seller of a home negate a signed contract or change the settlement date on contract
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 5 months ago.
Good morning. No, they can not, unless all parties to the contract agree. A party can not negate or cancel a contract unless there is a legal basis to do so or a clause which would allow them to back out, without a specific period of time or upon a certain condition. As far as the settlement date / closing date, it is not uncommon to extend the closing date if there are issue with lender or something out of the parties control and they should act in good faith, to try and close the transaction.
Expert:  RealEstateAnswer replied 5 months ago.
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