![]() Because an otherwise non-binding offer or letter of intent can be construed as binding if signed. Let this court case in Massachusetts be a warning to buyers and sellers in all states on just how dangerous it is to sign anything. However, in this specific case even though the seller had not counter-signed, Massachusetts’s courts ruled in favor of the buyer. Typically, contracts are not binding at all until all parties have fully executed the contract. If not understood, consult an attorney.” The seller accepted another offer the same day that the buyer delivered a signed contract and an earnest money check. Proposed modifications to a property Architect or Design Professional Legal documents or property rights Attorney. The form contained familiar contract language: “NOTICE: This is a legal document that creates binding obligations. ![]() We mention Massachusetts because of a well-known court case, McCarthy vs Tobin, where a seller and a buyer had both signed a standard offer to purchase form used by the local Realtor association. That’s because a signed offer form simply invites legal challenges should the transaction go sour. ![]() You should be very careful about signing any sort of offer form, regardless of which state you are buying property in.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |