I signed an offer to purchase and now have to do a purchase and sale agreement. Can any of the dates on the initial offer be changed? I think my realtor may have been too aggressive in setting dates and I am finding I may not be able to have the mortgage set in such a short time. I don't want to risk my deposit.
Real Estate Attorney
The Offer itself is a binding agreement, making its terms, including dates, firm and you cannot change them without the agreement of your seller. However in some cases the seller will be agreeable to changing the dates if it is explained that the original dates may not be achievable and why. You should ask your broker to go back to the seller to see whether they will agree to extend the dates.
Usually. Consult an attorney
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Frankly, you'd be well-advised to get an attorney. Although an attorney who only represents you is preferable, some lenders will let you chose your own closing attorney, and you may be able to get a "package deal" from such an attorney.
Otherwise, an experienced attorney will be able to help you deal with your issue. Generally, the terms of the Offer will be incorporated into the P&S, except where the parties negotiate different terms. Spend a little money on having an attorney represent you through closing, and don't regret, after the closing, issues that might have been solved prior to closing.
Real Estate Attorney
You need an attorney immediately. This is probably the largest purchase you will make, and a buyer's attorney typically charges between $400-800 to represent you in the purchase. It is money well spent.
Christopher Vaughn-Martel is a Massachusetts lawyer with the firm of Vaughn-Martel Law in Boston, Massachusetts. All answers are based on generalized Massachusetts law and the limited facts presented by the questioner. All answers are provided to the general public for educational purposes only and no attorney-client relationship is formed by providing an answer to a question. If you would like an attorney with Vaughn-Martel Law to review your specific situation and provide you with legal options or information specific to you, you may schedule a telephone or office by calling 617-357-4898 or visiting us at www.vaughnmartel.com. Our office charges $100.00 for a consultation, and applies your consultation fee to your first bill if the Firm is hired to perform further work.