Legal Question in Real Estate Law in Massachusetts
In my contract to purchase a house from a bank, the bank gives me 7 days to inspect with the right to cancel if notification is given to them in writing within the 7 day time period. In another section of the contract's addendum it is clearly stated that I have 10 days to inspect the property with right to cancel if notification is given the bank within 48 hours of the end of the 10 day period.
My question is-- if a contract gives two differing dates to complete an inspection which time period would be legally binding? Thanks for any suggestions.
2 Answers from Attorneys
In many jurisdictions there exists a general rule that any ambiguity in a contract is construed against the maker. Yet having re-stated this legal max, practical wisdom might suggest in observing the shorter time period where practicable in order to avoid legal controversy. Good luck!
Have you signed the agreement yet? If not, I strongly suggest that you retain counsel to review and negotiate the terms of the agreement. You do not need to accept the P&S as drafted by the bank's attorney.
As attorney Wood suggested, if the bank's attorney did draft the P&S, then any ambiguity would be construed against the bank and in your favor (the contract principle of contra proferentem).
Again, if you are in the negotiation process, or if you are contemplating exercising your right of rescission, please don't hesitate to contact my office.
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