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Next Day Addendum |
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We signed a contract "ONE TO FOUR FAMILY RESIDENTIAL CONTRACT (RESALE)" with a closing date on Aug. 11, thinking this a done deal.
Next day--- we received a "THIRD PARTY FINANCING CONDITION ADDENDUM" from our agent requesting we sign this stating we will wait 30 days for buyer to get financing and contract can be cancelled if can't get financing. We were surprised to have an addendum added after we signed original contract day before.Is this normal?? Must we hold off for 30 days before trying to sell house to someone else. We have not signed addendum yet and think we should not. Are we correct not to sign addendum????
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It sounds as if that addendum should have been there to begin with. My guess is that you don't have to agree to it. But as a practical matter, if your buyers need financing and if they can't get it, there's not going to be much chance of holding them to the purchase anyhow. You may want to consult your lawyer at this point. |
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Edith
Originally published on July 9, 2008 |
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