Legal Question in Real Estate Law in Massachusetts
Signing of purchase and sale as the seller of my house
We have a p & s signing on june 5th. Can the buyer of property back out after that, am i correct in thinking they have 24 hours after it is signed to back out?? Thanks
1 Answer from Attorneys
Re: Signing of purchase and sale as the seller of my house
A Purchase and Sale Agreement is the most important (and often the only) written agreement between the parties in the purchase and sale of a home.
There is no justification (that I am aware of) for your buyer to revoke a validly signed P&S Agreement within 24 hours of its signing, UNLESS there is a provision or clause in the P&S itself authorizing the parties to revoke the P&S within a certain period of time.
There may also be other contingencies of which you should be aware, including a mortgage contingency, inspection contingency, etc.
You should have an attorney review this important document with you before you sign it to make sure your interests are being protected.
Please feel free to contact me should you have any questions.
attyvm@vaughnmartel
www.vaughnmartel.com
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