Legal Question in Real Estate Law in New Jersey

Can I get out of a contract to sell my house

Can I get out of a contract to sell my house. The original contract had a double contingency - the buyer to sell their house and me - 30 days to find a home. The buyer has sold their house and is out of attorney review. 30 days have passed and I allowed the contract to stand. I just found out I will be loosing my job and want to get out of the contract and not sell my house. What are the implications. The buyers of my home have the home inspection scheduled this weekend and the bank appraisal the end of this week.


Asked on 4/08/03, 2:02 pm

2 Answers from Attorneys
Benjamin Laves Benjamin S. Laves, Esq.

Re: Can I get out of a contract to sell my house

First and foremost consult your attorney and have him/her review your contract carefully. The answers to questions like this often lie within the bounds of the contract. For example, there may be a liquidated damages clause or a specific performance remedy aknowlegment or waiver or perhaps a restriction to monetary damages and a requirement for proof as to actual damages suffered. Make a appointment to consult your attorney today!!!

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Answered on 4/08/03, 2:48 pm
Drew Hurley Law Offices of Drew M. Hurley

Re: Can I get out of a contract to sell my house

I concur with what Attorney Laves wrote you. However, we are both assuming you have a real estate attorney to consult with (which you should already have). If you do not have an attorney, contact one in your area of Somerset County immediately.

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Answered on 4/08/03, 5:42 pm


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