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We entered contract to sell a 4-plex apartment. The
Sent to Legal Experts March 21 03:32 AM

We entered contract to sell a 4-plex apartment "As Is". The buyer signed the last counter offer on 2/28 and has 17 days to remove contengency. On 3/6 we provided all the required documents, on 3/7 we did the termite inspection and the total cost for section I is under 3k. On 3/20 we received another addendum from our agent indicating that the buyer wanted to cut another 50k from the purchase price. Is this legal since it's already exceeding the 17 days limit. Our agent said that he received it on 3/19 and usually people give a couple days extra on weekends though it's more than 17 days, the buyer can walk away without incuring penalty. We have to release the buyer's initial deposit if we don't sign addendum. I looked at the addendum, looks like the buyer had it signed and faxed on 3/16. Can the buyer do addendum on the last moment to reduce the purchase price after both parties had agreed on the price? If our agent isn't doing his job, can we ask for compensation?

Customer (name blocked for privacy)
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