I was quoted on Sunday - April 27th, 2008 in the Leominster/Fitchburg Sentinel & Enterprise.
http://www.sentinelandenterprise.com/local/ci_9074609
Showing posts with label real estate contracts. Show all posts
Showing posts with label real estate contracts. Show all posts
Tuesday, April 29, 2008
Wednesday, April 23, 2008
When is a Clause Not a Clause...
Language is Very important; in life, in love and in real estate. For those who are not represented by Legal Counsel (read: Attorney, Lawyer, etc.) a keen understanding of Language is extremely important! So is the importance of having legal counsel.
Read this clause for example:
"Subject to the Seller entering into an accepted offer on a property within 'X' days of acceptance of this offer."
If the Seller enters into an accepted offer on their new property within the specified time frame but the Seller's deal on their new property falls apart at some point before closing, what happens:
A) The sale on the Seller's house they are in now terminates.
B) The Seller must go through with the sale to the current buyer on their present property.
What do you think (and why)?
Read this clause for example:
"Subject to the Seller entering into an accepted offer on a property within 'X' days of acceptance of this offer."
If the Seller enters into an accepted offer on their new property within the specified time frame but the Seller's deal on their new property falls apart at some point before closing, what happens:
A) The sale on the Seller's house they are in now terminates.
B) The Seller must go through with the sale to the current buyer on their present property.
What do you think (and why)?
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