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Will rejecting a change to the contract kill the deal?

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Two hands shaking in the foreground with a woman holding a clipboard with a piece of paper that says CONTRACT in the background

04/22/2014 | Author: TAR Legal Staff

After I accepted an offer on my home, the buyer sent me an amendment to the contract to extend the closing date. Does this mean the original contract isn’t valid unless I accept the amendment?

No. If you don’t accept the amendment, the underlying contract is still in place and will remain in effect until terminated. Amendments only add to or subtract from the underlying contract, and both parties must agree for the amendment to be in place. If one party wants an amendment and the other does not, the underlying contract will remain in place.

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Categories: Legal, Buyers, Sellers
Tags: legal, contract, amendment, negotiation

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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

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