Legal Question in Real Estate Law in Massachusetts

P & S Signing

What are the consequences of a seller backing out of a deal after the P&S has been signed? The buyer has not gotten financing approved quite yet.


Asked on 5/30/07, 12:26 pm

3 Answers from Attorneys

Herbert Cooper Law Offices of Jameson & Cooper

Re: P & S Signing

In theory, the Buyer has a legal right to hold the Seller to the deal, and to force the Seller, through court action, to actually deed the property to the Buyer. This can be very fact specific, however, and the Buyer must also adhere to the Buyer's obligations according to the contract.

Typically, the most common situation is a problem arising before the P&S is signed. It is a very good idea, whether buying or selling, to have an attorney represent you in the preparation of the P&S. (Brokers are not attorneys, and do not give legal advice.) Note that there are certain contingencies in most P&S's. Whether they apply in a given situation depends upon the facts of the situation - but you should not, in general, post too many specific facts on a public forum such as this.

This is definitely not something to try to handle without an attorney.

It is not clear whether you are a Buyer or a Seller, but in either case, to protect your legal rights, you should contact an attorney.

Please feel free to contact our office if you need assistance.

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Answered on 5/30/07, 12:35 pm
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

: P & S Signing

Your question suggests that your are seeking problems.

Briefly, unless the buyer breaches their agreement, you have to wait.

Your question suggest that you should seek legal advice. If you need assistance, contact me.

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Answered on 5/30/07, 12:42 pm
Craig J. Tiedemann Kajko, Weisman & Colasanti, LLP

Re: P & S Signing

It depends on what the P&S says (if anything) about the situation you describe. If the issue is addressed in the P&S, that controls. If not, the answer would require additional facts. Contact me if you'd like help.

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Answered on 5/30/07, 12:53 pm


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