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J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2211
Experience:  Experience in residential real estate and commercial leases.
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I have a "Real Estate Purchase Contract" that was signed

Customer Question

Hi, I have a "Real Estate Purchase Contract" that was signed 7-18-14 with nothing filled out on section 24---deadlines for everything. The buyer is now coming back to close on this contract. The value of property has increased about 40% from then-2004, to now.
Is this purchase contract valid now being almost two years old and nothing filled out for deadlines.
According to purchase agreement, there has been $500.00 but in escrow.
Thanks, ***** *****
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  J. Warren replied 6 months ago.

Hello and welcome! I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

Expert:  J. Warren replied 6 months ago.

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.

I an sorry you are dealing with this situation. There potential is a problem here in that no date was specified. If you were represented by a Realtor, you should be giving them a call and putting them on notice they have potential liability here.

However, the fact there is not date does not automatically void the agreement however, this is really unreasonable to that the sale would be allowed to move forward. Here is the standard the court will imply: a "rule of reasonableness" which must be gleaned from the context and totality of all of the clauses of the contract so as to "effect the intent" of the parties when they entered it.

It is very hard to imagine that a Judge would see that the parties agreed to an open closing so the value of the property would increase and the buyer would get a win fall from closing two years after the agreement was entered into.

I would retain another attorney in your local area and have them put a stop to this situation so this does not go any further.

All my best and encouragement. Thank you for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! Please press a positive rating above this message box in the ratings section so I will be paid for my time assisting you on this matter. Pressing a positive rating will not cost any additional money - it is simply the trigger used by Just Answer to pay me for my time (pressing the middle star or the fourth or fifth star on the right are all positive rating buttons).

Expert:  J. Warren replied 6 months ago.

Can I answer any additional follow up questions for you or clarify anything I have written above? If not, can you please press a positive rating above this message box in the ratings section so I will be paid for my time assisting you on this matter? Pressing a positive rating will not cost any additional money - it is simply the trigger used by Just Answer to pay me for my time (pressing the middle star or the fourth or fifth star on the right are all positive rating buttons).

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