When and how can a contract be modified by just one of the partyies to it?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
When and how can a contract be modified by just one of the partyies to it?
I submitted an offer on a property and in the offer we requested the seller to pay 2% of the purchased price toward buyer’s closing costs. The seller “a bank” counteroffered. They specifically requested more for the home and an earlier closing date. No counteroffer was made about the 2% toward closing costs. I accepted. They sent an addendum; in this addendum they didn’t put the 2% toward closing costs. My real state agent sent the new contract that we signed with the changes in the counteroffer but including the 2% and submitted it. I received the signed contract and noticed today that they crossed out the 2% toward my closing costs. Can they modify my contract? Are they obligated to pay the 2% ?
Asked on June 18, 2015 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
One party may never unilaterally alter an accepted contract. However, from what you write, it appears that you sent in a counteroff in effect--you write that the addendum did not include the 2% towards the closing, but your "real estate agent sent the new contract that we signed...but including the 2% and submitted it." This means you did not accept their contract as is--or at least that's how you phrased it in your question--but rather sent back a signed contract that had a new term (the 2% for closing) not in the version they'd sent you. That consitutes a counteroffer, and so there was no accepted contract at that point. When it came to them, rather than accept your counter, they re-countered back. That is legal: if party A counters the offer, party B does not have to accept it as submitted, but may counter in turn.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.