Legal Question in Real Estate Law in New Jersey

I am under contract as a buyer in a short sale. Bank has approved the asking price but came $100 short of the closing amount asked for in the contract. Does this now make the contract null and void and allow me to walk away?


Asked on 7/27/12, 7:15 am

1 Answer from Attorneys

Miriam Jacobson Retired from practice of law

You need to have a lawyer look at the agreement you have with the seller and the bank. Your rights can only be determined after a review of the agreement and any other documents relating to it.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

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Answered on 7/27/12, 11:53 am


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