Thus, buyer would lose their deposit, even though:. Clearly, this was not something contemplated by the parties at the time the Addendum was drafted and signed. Typically, when amending a written contract, good drafting requires that the amendment expressly state what part of the Sale Agreement is to be changed, added, or deleted, and what part is to remain. How Courts Deal With Ambiguity. Opening the door to extrinsic evidence to interpret the document can be a free-for-all, where all parties can point to outside events and statements, supporting their own favored interpretation.
The Take-Away. Had any of these circumstances been considered, they would have likely been addressed at the time. Accordingly, proactive drafting is encouraged. This means:. Menu Close.
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Buyer: Date : Buyer: Date:. Sample 1. Sample 2. Sample 3. Upon the expiration of the Feasibility Period and at all times thereafter, all of the deposited Earnest Money shall be Nonrefundable Earnest Money.
Related Clauses. Use the Earnest Money Agreement document if: You want to make a serious offer on real property You have agreed to sell real estate to a buyer but the details aren't yet finalized An Earnest Money Agreement is a commonly accepted first step for property sales or rentals.
Share this. Intent to Purchase Real Estate. Input your question here Characters remaining: Our documents are vetted by lawyers and legal staff, so you can use them with confidence. If there's a dispute, an On Call attorney can respond on your behalf. Included in your Premium plan.
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