Legal Question in Real Estate Law in New Jersey

Re: contract binding

No one is bound until an actual contract is again signed and another 3 day attorney review period passes. Until then, the Seller is able to entertain and agree to any other offer he desires. Keep in mind that this advice is based purely on the little bit of information that you have given to me. There certainly may be other factors that would change my opinion. Further, no one can rely on advice from an attorney who has not been retained. You may want to contact an attorney at this time (either me or someone else) to discuss your matter in more detail. Only then will you be able to rely on the advice. If you call me, [856-546-8010] mention Law Guru and your first one hour consultation will be free. Good luck! Rob Gleaner

Re: contract binding

You are caught between a legal and a moral dilemma. Legally, until attorney review is completed and a final contract agreed upon, either party can terminate the original contract. This allows the Seller to entertain and contract with another buyer. Morally, on the other hand, and assuming what was requesed by your attorney was normal contract changes (not changing the essential terms), the seller should retain your contract. However NJ law does allow this - as it is one of the permitted results of attorney review - good or bad.

Re: contract binding

Until you are out of attorney review the Seller has the right to show the property to anyone else. This is the reason the buyers attorney should get the buyer out of attorney review ASAP. Sometimes, what happened to you is unavoidable. It sounds as if the Sellers attorney delayed the process. (He may have been waiting for another offer!)

If you have any additional questions you can call me for a free phone consultation. 201-646-9600 Savy Grant

I specialize in real estate closings.