What is the buyers right to cancel contract?
The law also provides that, within five days of acknowledging receipt of the lease documents, the buyer has the right to cancel the contract and recover all deposit money. The seller and buyer may agree in writing to reduce or extent the time period required for the seller to provide the lease documents and the buyer to review them. What is the role of the leasehold addendum at the time of signing the sales contract (Purchase Contract or PC)? Your Standard Purchase Contract (also called the PC) may contain a detailed addendum that informs you about leases in general and specifically about your own lease. Ask the sales agent for a copy of any standard leasehold addendum so that you can review it in advance of your making an offer. Be sure to ask questions if you do not understand any part of the addendum. Do I need expert advice? If, after reading the lease Document and the summary of its major provisions provided by the seller, and discussing this with your real estate agent, you still
