Q: Seller and I signed contract for agree price. Later told will need to be higher because a cash buyer will buy it unless.
Do I have to pay the new asking price, is the original price still valid?
A:
If you signed a written contract to purchase land that has all the necessary terms the agreement is binding upon both parties from a legal point of view.
Practically the seller, while bound legally to the written contract may not realize he is bound and thus might refuse to sign.
If he will not agree to go to closing at the original price and you are still within the time frames of the written case you might have an action for specific performance of the contract.
There is no way to say via this online forum if your situation has an enforcement contract. I recommend that you consult with an attorney in your area to determine what your rights are.
Richard Paul Zaretsky agrees with this answer
A:
If you have a contract that has the essential elements of a meeting of the minds (who, what, when, where, and how much) then the contract cannot be changed without both of you signing.
If the seller thinks he can modify the contract or sell to someone else and ignore your contract - you have a problem and you need to understand why he thinks that way. There are two ways to determine that and you should try both:
1. Ask him why
2. Seek the advice of an attorney to review your "contract". And take with you the seller's explanation so the attorney can see if the seller is right or wrong.
The attorney can advise you on how to enforce your contract.
A: You will need to hire an attorney to review your contract. The contract is binding, absent it expiring as not closed by the close date, or some term not fulfilled along the way.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
