If I signed a contract to sell my condo but the buyer has not signed in a couple of days, can I get out?

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If I signed a contract to sell my condo but the buyer has not signed in a couple of days, can I get out?

Asked on September 1, 2015 under Real Estate Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Who provided the contract? If the buyer sent you a contract which you then signed, you are bound by it in sending you the contract, the buyer made you an offer to enter into a contract, which you accepted by signing it. The buyer's signature is not strictly necessary if he originated the offer.
If you sent it to the buyer, there is as yet no contract. Send the buyer a written communication, send some way or ways you can prove delivery e.g. by fax by certified mail by fed ex etc. stating that the offer is only open for another day from delivery--if you did not put a time period into the original contract or offer of when the buyer had to respond by, you can't assume that, after a "couple of days," that he has taken too long. Rather, you need to now put a date out there, after which the offer is withdrawn if he accepts within that time, you will be bound, but if he doesn't, you will  be out.
Note that if when you transmitted the contract or offer to the buyer, you indicated that he had to respond within a certain time frame and he has not, then you are also clear.


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