Legal Question in Real Estate Law in New Jersey

We are under contract to sell our condo, 2 settlement dates have past and now they want us to sign another addendum for another settlement date. We have no confidence in this sale now. If we don’t sign the addendum, is our agreement of sale void?

Asked on 4/17/21, 4:51 pm

1 Answer from Attorneys

Walter LeVine Walter D. LeVine, Esq.

No! I suggest you have Buyer sign a Time of the Essence Agreement stating that if they do not close by the new date both the Contract is voided and the Buyer loses their deposit money, or covers your loss on the sale to a new Buyer.

if the loss is higher than the deposit.

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Answered on 4/17/21, 7:24 pm

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