Topic: Buying Properties
Subtopic: Buying Properties: Agreement of Purchase & Sale
Friday, Sep 22, 2006
A real estate agent told me that he finalised a deal, waiver issued. At the time of closing the buyer refused to close the deal because the closing date on the agreement was sunday...so it was a technical part as buyer suggested to agent...agent asked the buyer to contact to his lawyer..the lawyer told the buyer that he was right and promised him,the buyer, that he, the lawyer would do the mutual release and get his deposit back to him .....is it possible that just because of an error on agreement the deal would become null and void and released?
Merv says...
Such confusion may be the result of negligent preparation of the Offer and a Judge might decide that a Monday closing would be permitted but that the REALTOR should bear the costs of the storage and accommodation expenses. But in any event, the sellers should be seeking advice from their lawyer on how to deal with this matter.
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