Posts Tagged ‘purchase contract’
Canceling Purchase Contract After Inspection Period
Question: We signed the standard AAR Purchase Contract (“Purchase Contract”) for the purchase of a Gold Canyon home near the Superstition Mountains. During the 10-day inspection period the seller agreed to make the minor repairs that our home inspector had recommended. We then flew back to Canada. Three days later our real estate agent called…Read More
Yes, Emails Can Be a Purchase Contract, Even If Seller Has Cold Feet
Question: We looked at a home in Chandler that had an open house. The sale price was $825,000. Our price limit was $750,000, so we didn’t even make an offer. Just like us, however, the seller is from Buffalo, and we had a nice 30-minute conversation with the seller. At the end of the conversation,…Read More
Can Listing Agent Bind Seller to Purchase Contract?
Question: In a recent column a buyer made a $480,000 offer to purchase a Casa Grande home. The listing agent emailed the buyer’s agent, “Sounds good. Let’s open escrow. Seller signing the purchase contract.” The seller then sold the house to another buyer for $510,000. Your answer was that the email of the listing agent…Read More