Real Estate Law
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Kindly clarify this statement:
"we are still within the attorney review period from the first buyer, wherein we can cancel for any reason."
Does your signed offer specifically say this?
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this is a traditional bidding war, is it not?
Response 1: It is.
in any event, in nj either party can cancel within 5 days of signed contracts for any reason. this is called the attorney review period. does the fact that our reason is a higher offer make any difference?
Response 2: No, it does not. Any reason means just that. It does not matter what the reason is so long as the reason is not based on prohibited discriminatory ground such as the buyer's race or nationality. So, you can cancel the first offer under the circumstances that you described.
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