I am in the process of purchasing a below market rate condo through the Mayor's Office of Housing.
We have 2 contracts from the seller. The seller wants to void the original one, and replace it with the second one-- which includes many disclosures that favor the seller while creating many a disadvantages for the buyer.
I was told by the Dept. of Real Estate that the original contract is still valid, if I did not sign the second one. I haven't.
In the meantime, I have drafted up a third contract which reflects the seller's contracts-- only without all the disclosures that would put the buyer at a disadvantage.
My question is this: If I present the third contract, does this make void the original one?
1 Answer from Attorneys
Presenting a third contract would probably constitute a rejection of the first and second contract proposals, thus voiding them. It seems to me you are wading into deep water here, writing contracts, relying upon the DRE to give you opinions, etc. Unless you have a lot of prior real estate experience, I'd recommend that you get a contract attorney to advise you, or this give-and-take on contracts, including trying to draft your own, may get you in a bunch of trouble.
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