If a seller has accepted a offer with some changes to be initialed and buyer has
not yet signed the changes, can the seller back out of the contract?
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If a seller has accepted a offer with some changes to be initialed and buyer has
not yet signed the changes, can the seller back out of the contract?
Asked on July 6, 2018 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
It depends on how long the buyer has had to accept the changes: the seller must provide a "reasonable" time for the buyer to accept. "Reasonable," unfortunately, is not well defined; it is judged on a case-by-case basis, in light of circumstances. If the seller contacts the buyer (in writing) and gives them some period of time to accept (e.g. by noon the next business day) and the buyer did not accept by then, the seller would be in good shape to then decline the sale.
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