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Legal Blog

The Legal Blog, brought to you by NVAR's Professional Standards department, helps you stay on top of the latest rules and regulations in the industry.

What happens if at the end of the Negotiation Period if the parties have not been able to reach an agreement?

Sep 30, 2016

Contract Issues

Question: What happens if at the end of the Negotiation Period if the parties have not been able to reach an agreement?

Answer: If the parties are unable to reach an agreement by the end of the Negotiation Period, the Purchaser (and only the Purchaser) has an additional period of time to simply void the contract or choose to take the property in its current condition without negotiating any remedies
Group(s):
  • Contract Issues