Legal Question in Real Estate Law in New Jersey

Contract Addendum

My real estate attorney sent to the seller's attorney a contract addendum without giving me an opportunity to read it or sign it. The seller accepted the addendum. When I received my copy in the mail I immediately contacted by attorney by fax that the addendum was not acceptable to me.

My attorney & my realtor then told me we were out of attorney review and I could not back out of the deal. Is this true? Also I found out through neighbors that the house is in a flood zone. The seller said he had no knowledge of this. What can I do to get out of this deal? What legal actions can I take against my attorney?


Asked on 11/02/03, 4:18 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Contract Addendum

The question of the addendum depends upon what was covered and what ramifications it has on you. If negative, you might have a malpractice or ethics claim. As to the flood zone, what does your contract provide. Most standard contracts allow you to get out of the contract. Check this provision. I am surprised the Seller does not know about this as he might have had a flood search done when he purchased the property. If so, his mortgage company would require flood insurance. If the contract covers this, alternative to cancellation, you could negotiate the seller paying for flood insurance or reducing the purchase price by credit for the insurance. If the house is desireable, you might want to have an elevation survey done. Many times the property can be in a flood zone, but the physical house is located higher than the flood plain, in which case you can apply to be removed from the designation and will not be responsible to have flood insurance. I have done this personally and could assist you.

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Answered on 11/03/03, 9:56 am


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