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Re: O/T Real Estate terminology
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Posted by John T Country Lawyer on April 20, 2007 at 10:08:31 from (66.244.90.5):
In Reply to: O/T Real Estate terminology posted by frankiee on April 19, 2007 at 17:30:52:
It sounds to me it means just what it says?? Until 72 hours has passed you can back out butttttttt after then its IRREVOCABLE i.e. youre bound by the terms of the contract. Among the many general rules of contracts are the Parol Evidence Rule and how a written contract will be considered by looking within the "Four Corners" of the document, so you may well be stuck with what you sign remember............ I always advise my clients to make any offer SUBJECT TO obtaining financing and inspections etc among other things which provides some wiggle room at least. John T Country Lawyer in Indiana
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