In SC, a contract is supposed to have all signatures and if there are any changes, each change must be initialled by all parties and the initials dated. This is SC license law. Well, I have just had a situation where the contract missed buyer's initials on 2 important changes (to the buyer) in the contract and it is being argued by the seller's attorney that it is a ratified contract. Also, none of the initials were dated as is required.
The fight is still going on --- buyer does not want to close and argues that he does not have a ratified contract - seller argues that the contract is ratifed.
More to come.
Liz Loadholt
AgentOwned Realty
Frankly, I would listen to the attorney. He/she would know more about contract law.
What is the attorney's argument? If it is the law to have initials and dates to be ratified (and there are initials and dates missing), then I don't see where the confusion would be. You would think an attorney would know the law best, but if he's hired by the seller he may be trying to get the deal closed.
What does the buyers attorney say? I tend to see this as the buyer does but I am not an attorney and can't give legal advise. The sellers attorney is looking out for the seller. The buyer needs legal advise.
Liz, I have to agree with you about the license law. However since the Seller has gotten an attorney, the Buyer should do likewise and let the attorneys handle it.
Thanks for the input --- I will let you know how this comes out. By the way, the buyer does have an attorney.
Liz Loadholt