Legal Question in Real Estate Law in New Mexico

Real Estate Price

Is it possible to have a contact price ammended after the contract has been signed? The contract price should have been the actual cost to build the house and not the apprasial price. THe builder is the father of the buyer, and the agreed upon price was to be the actual cost to build. But the contract price was put in as the appraisal price.

in order to get to the apprasial price there was a gift form signed but it really should never have been done. Is it possible to ammend the contract to reflect the correct sale price. THis does not affect the financing of the home

Thanks


Asked on 4/09/09, 3:32 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: Real Estate Price

Any contract can be amended if all parties agree. Some contracts can be reformed if there was fraud, mutual mistake or misrepresentation, etc. The latter requires court action.

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Answered on 4/09/09, 4:44 pm


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