Posted by River City on March 30, 2005 at 06:23:13:
Does your contract indicate what happens if the contingencies are not satisfied, or does it just leave everything in limbo?
Signing off on contingencies - Posted by Gwen
Posted by Gwen on March 30, 2005 at 01:37:08:
I am selling my condo in CA and my buyer hasn’t removed any of the contingencies even though we are 21 days into escrow and they were all supposed to be removed after ten days. Can I put my condo back on the market?
Re: Signing off on contingencies - Posted by eric
Posted by eric on March 30, 2005 at 08:52:47:
Are you using the CAR contract? If so, it requires a written notice to preform before seller can terminate the agreement. There is a CAR form for the notice. I believe that it is form NBP. Otherwise, read the contract and do what it says in regards to terminating the agreement. If you sell to another buyer without properly terminating this agreement, you are setting yourself up for a law suit.
Do you have a broker representing you? If so, tell them to do their job!