Legal Question in Real Estate Law in New Jersey

Thank you for your LawGuru question. At this risk of stating the obvious, you should direct your question to your attorney. That being said, once parties are "out of attorney review" the contract is binding on the parties and the buyer is no longer "making an offer." Assuming the seller cannot cancel the contract pursuant to a contingency in the contract or because of other legal justification, then the seller is obligated to complete the contract with the "first" buyer. Please feel free to contact me to explore your options and protect your legal rights. 973-921-0600.

Kindly note and remember that my response is merely a general comment on the law related to your question, and NOT legal advice or opinion. Also, your question and my response does NOT create an attorney-client relationship between us. You cannot rely upon what I have written, because I do not have all of the information that I need to advise you or render an opinion. Even simple facts you have not shared can completely change my answer. For me to give you legal advice or opinion, you would need to hire me to be your lawyer, and then we would need to discuss this in detail and go over the documents.

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I agree with Mr. Gartenberg's statement of your rights. I will add that you need to decide how you want to come out of the transaction. If you want the property (rather than money damages) it will be necessary for you to act quickly. There may be a way to prevent the sale to the second "buyers", but you will need to make sure that the battle is started before much else happens. It would be appropriate for you to have a lawyer review the contract that you have unless you are already represented.

See also: http://info.corbettlaw.net/lawguru.htm