HelloI am a buyer in MassSigned an offer to purchase with sellerHad inspection done within my contingency period (still 3 days left).Found i...

Question

Hello

I am a buyer in Mass

Signed an offer to purchase with seller

Had inspection done within my contingency period (still 3 days left).Found issues,seller has verbally agreed to 8k for needed repairs.

My buyers agent (brother in law) wants to write a new offer to purchase with same info ,dates,times,etc and add in the 8k for needed repairs due to issues found with inspection under additional terms.

The seller agreed to sign the new one

My question is

Is this an ok way to do it?Will the new offer to purchase make the previous one not valid anymore?

Please let me know and thanks for your help

Answer

if the new offer is properly written, yes.

I do suggest you have an attorney assist you with the P&S, and if possible use him to handle the closing for you and the bank.

Good Luck.

Answer

Thanks for your question.

I agree with Attorney Roth that you want to have an attorney representing you in a purchase like this. You are only at the offer to purchase stage and you are already feeling unsure that you are protected.

To answer your discreet question posed here, assuming the new offer to purchase is drafted properly, you may not have a problem. One potential issue with doing it this way is that your new offer would not have to be accepted by the seller. I think I would proceed to the purchase and sale stage and negotiate a credit for the $8k.

I strongly recommend you retain counsel. Good luck!