Valid contract I don’t want this contract I found better offer to sell my house
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Valid contract I don’t want this contract I found better offer to sell my house
June 23 I signed the contract I sold my house to company named ugly houses this contract never went to lawyer review June 28 some gave us better offer and we took it we called the woman from ugly
houses that we have better offer and we don’t need her help anyone she was very rude and she said
your contract is valid after 3 days.When she was at my house June 23 she said don’t worry if you don’t like it you can back off anytime you want. Now she said if we will try sell the house she will stop the selling. Contract never went to lawyer review she never said that contract will be valid after 3 days and she said your contract says this why she said we can always back off if we don’t like it.Someone gave us better offer I don’t know what to do if she really can stop this selling if I signed another contract with a new buyer this old contract will be cancelled please help me I don’t have too much time I am afraid of. her
Asked on July 1, 2017 under Real Estate Law, New Jersey
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
In New Jersey, you have three days during which you can cancel a contract; this is called the "attorney review" period. Each party must arrange for its own attorney review; it is your responsibility to have your contract and the sale reviewed--the other side does not do it for you. Each side also has the responsibility to send a written notice, within three days, canceling the sale, if that's what they want. After three days, you can no longer cancel the contract. The other side also does not need to tell you about this--it is your responsibility to know the law and your rights, including that you have only three days to cancel. Your friend in the lawyer's office is wrong: there is no inherent right to take a better offer, and if you don't go through with an existing valid contract, you could be sued.
Based on what you write, it appears that the contract is valid and enforceable and you are locked into it; that said, if you really do want out and want to take a different offer, bring the contract to a lawyer--not just someone who works for a lawyer or in a lawyer's office, but to an actual attorney--to review, to see if there are any grounds to get out of it.
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