Will rejecting a change to the contract kill the deal?
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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