cancel contract

[april654]

What is the name of your state?florida

I am very behind on my morgage. my brother inlaw offered to buy my house for what is due on the mortgage just not to go to forclosure. i signed a contract for sale with no price just an ademdum. i have made a terrible mistake can i get out of this contract? it was signed on march 9th 2005. someone told me i have 3 business days to cancel. please tell me this is true.



thank you

 

[BelizeBreeze]

"someone" is wrong.

 

[april654]

well!!

well since someone is wrong. is there anything that can get me out of the contract?

 

[BradleyS]

Check your state laws on real estate contracts.

In my state, a real estate contract must have a definite purchase price (consideration).

If your contract doesn't have a purchase price, then it may be invalid.

You should be able to find your state's legislation web site to do a search on "real property contracts requirements."

If you can't find any statute's, then talk to a REAL ESTATE ATTORNEY that specializes in REAL ESTATE CONTRACTS. This site is a great way to find such attorney.

 

[HomeGuru]

What is the name of your state?florida

I am very behind on my morgage. my brother inlaw offered to buy my house for what is due on the mortgage just not to go to forclosure. i signed a contract for sale with no price just an ademdum. i have made a terrible mistake can i get out of this contract? it was signed on march 9th 2005. someone told me i have 3 business days to cancel. please tell me this is true.



thank you

**A: there is no 3 day right of rescission on real estate sales.

 

[clueless55]

Is your brother in law going to let you live in the house? Will you rent it back from him?

Did your brother in law give you any downpayment (consideration) for the sale of your home when you signed the contract of sale? Cannot homes be sold for 'love'... with no money exchanged?