Can a buyer cancel a contract under attorney review without an attorney?

The contract was in Attorney Review,my attorney was reviewing  it.  I was planning to switch attorney.It never happened.At the same time I decided not to purchase that property.I have already withdrawn my attorney from this case.In this situation can I cancel  the contract by myself or do I need an attorney to cancel it? I don't have attorney right now.How will I get my earnest money back?
  • August 12 2013 - Morristown
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Answers (4)

Profile picture for mach six
Just wanted to share my experience and is not intended to be taken as legal advice which you should consult a lawyer for.
  • January 17 2014
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Profile picture for mach six
If i'm not mistaken the contract is only legally binding after the attorney review process and even if you break the contract after it was signed but wasn't out of attorney review, plus they would have to sue you for it.  I'm sure your buyer contract had an attorney review clause.

I had a buyer fail his end and that's what our lawyer said about getting that money from them.  
  • January 17 2014
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In simple terms. No
  • August 16 2013
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Profile picture for Connie Klemme

hopefully a NJ person will respond as well as there are very likely circumstances unique to NJ on this topic. 

however most contracts have language in them that define your cancellation terms and the process for obtaining one's earnest money back.  There is most likely a whole section of the contract that defines the "Cancellation period" and the process for cancelling, same with Earnest money.   One thing that might be important to note is that if the Earnest money is held by a lawyer or a title company instead of a brokerage, there may be a different set of rules that apply to the process for obtaining a refund.  

Review your contract for the best answer and ifyou had an agent visit with them about it. 

I'll go find an agent or two from NJ and nudge them to comment if there aren't some comments on here from persons in the area by morning.

  • August 12 2013
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