Will rejecting a change to the contract kill the deal?

Translate this page
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.

Have a question about buying, selling, or leasing property in Texas? Ask us. Not all submitted questions can be answered. 

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


Comments

No comments have been submitted for this entry.


Leave a Comment

Read our commenting policy



advertise with us

Legal disclaimer

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.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

Advice for Consumers

4 signs the home you’re considering might need a foundation evaluation

Five reasons to include a home warranty with your home’s sale

What a pivotal moment in world history can teach us today

Subscribe

More advice for consumers