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Termination of Contract by Purchaser

Termination of Contract by Purchaser

Why ask for the termination of contract terms and conditions?

The time when you are buying a property is very crucial and it takes a lot of math and stress to decide which property to buy. Many a time even when you have finally decided to buy a certain property your mind remains in a dilemma whether you have made the right decision or not. In this contemplation many people even would want t cancel the idea of purchasing the property owing to the potential risks that they may foresee. At this point of time if you are told that you cannot cancel the contract because

  • The date of doing so has expired
  • The state law does not allow it

This may come as a shock to you and therefore it is very important that you know about termination of contract by purchaser terms and condition beforehand.

You must not assume anything while signing any contract because if you do so and do not abide by the contract terms and conditions you may be sued by the other party. So while signing the contract ask your lawyer to point you towards the appropriate page of the document that talks about cancellation of the contract from your side. If you are not satisfied by the answer or the terms that are being imposed then you must not sign the contract at all.

You must exercise all caution while dealing in property because you may want to change your mind anytime and then you must not feel trapped.

 

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