new buyer - help

What is the name of your state? michigan

I signed my purchase agreement on December 22, 2002, as I was reviewing it the other day I noticed that the agent dated the agreement for 2002 instead of 2003. So in other words, instead of a potential closing date of 02/14/03 she dated it 02/14/02 (the whole document is backdated). Also, she put the wrong price (to my advantage) on the purchase agreement. Could I assume that the purchase agreement is not legally valid? Do I have any obligation to purchasing this particular property, even though the loan was approved based on this property?

[HomeGuru]

[quote]Originally posted by mlopezvega
[b]What is the name of your state? michigan

I signed my purchase agreement on December 22, 2002, as I was reviewing it the other day I noticed that the agent dated the agreement for 2002 instead of 2003. So in other words, instead of a potential closing date of 02/14/03 she dated it 02/14/02 (the whole document is backdated). Also, she put the wrong price (to my advantage) on the purchase agreement. Could I assume that the purchase agreement is not legally valid? Do I have any obligation to purchasing this particular property, even though the loan was approved based on this property?

**A: I suggest that you have a real estate attorney review your contract as there may be other areas in error.

[JETX]

"Could I assume that the purchase agreement is not legally valid?"
*** No.

"Do I have any obligation to purchasing this particular property, even though the loan was approved based on this property?"
*** In all likelihood, yes. However, as noted by HG, to answer your question with complete accuracy would require a review of the FULL facts by a competent attorney in your state. I will add though.... there is only a very slim (if any) chance that the sale could be voided. And if you decide to attempt that, and the seller wants to hold you to the contract, he/she would probably take legal action against you for breach of contract.... and that could cost you far more than any 'desire' to get out of the sale.

[HomeGuru]

Writer: can you ask your agent if she has E&O insurance.