Legal Question in Real Estate Law in Florida

Is contract legal when all buyers do not sign

Three parties agreed to purchase a home. One party is unavailable to sign contract due to job travel. It is agreed verbally between all parties that the buyer unavailable to sign will do so at the closing. 10% of the purchase price is placed in escrow with a title company and all other parties have signed. Meantime, a realtor (the home is not listed) shows the property and presents another offer to purchase. Realtor is told that a "deal is pending". Realtor advises sellers that contract is not valid because all parties have not signed. Sellers sign second contract with realtors party. (not as backup) Who has the legal right to purchase the home? What options are available to the original buyers?


Asked on 4/01/00, 2:19 pm

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Is contract legal when all buyers do not sign

Without seeing the contract, it seems the failure of all buyers to sign the contract, makes it invalid. A definitive reply requires an examination of the contract. You should consult with a competent atty as soon as possible.

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Answered on 4/14/00, 5:36 pm


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