Legal Question in Real Estate Law in New York
Seller trying to change mind
after accepting and signing purchase offer , can a seller back out of agreement?
Asked on 3/29/07, 3:45 pm
2 Answers from Attorneys
Arnold Nager
Arnold H. Nager, Esquire
Re: Seller trying to change mind
It depends upon the terms of the agreement. Some purchase contracts provide for mortgage contingencies, engineering approvals, etc.
Answered on 3/29/07, 4:31 pm
Michael Moberg
Moberg & Associates
Re: Seller trying to change mind
Generally, no. Unless the terms of the contract specify that the seller can cancel the contract if the title report discloses violations or title obstructions which will be costly to remedy.
You should have an attorney review the contract. You may contact me at anytime.
Answered on 3/30/07, 4:07 pm
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