Need answer ASAP !!!
Hi all.
I need a legal opinion. The seller's lawyer drafted up a contract. He wants me to sign it tommorow. From what I see, it is a pretty standard contract. However, we have not hammered out al lthe details. What happens when I sign it? Am I obligated to agree to it as stated or can my lawyer make changes druing attorney review. The contract itself does not state anything about an attorney review period. I just dont want to sign the contract and then be stuck with the terms without the changes that will have to be made. The seller gave us until Friday afternoon or he is going to break talks with us. We started talks maybe two weeks ago, so I can unsterstand him being a little upset. Two weeks and he doesnt have a signed contract. It makes it seem as if we are not serious buyers. Any info?
TIA.
[addsig]
Make the contract contingent upon your attorney review and approval . Put in a specific date that that will be accomplished by so the sellers aren't turned off by your procrastination,
Make sure your attorney will be able to review the contract with you with in that time frame.
Thanks for the comment. I just made an addedum with Witness spaces so that a witness can sign it. The addendum stated that the parties can seek attorneys and that the attorneys can reivew the contract. I also stated that if the attorneys can not come to a mutually agreed upon final contract, that the whole contract in its entirety may be voided by either party.
[addsig]