Signed contract/contract deposit

They can back out until the check is deposited, and until they receive a countersigned contract, I believe. Tell your attoeney to get off his ass!

Take the check and deposit it yourself. I find it amazing that people allow lawyers that your paying to be so lazy.

My understanding is that you are officially "in contract" when the signed (by both parties) contract is delivered to the buyer's attorney. It's not about the check, it's about the delivery of the complete signed contract to the buyer. Has your buyer's attorney acknowledged receipt of the contract? If so, I think you're OK.

Having said that, I still think your attorney needs some improvement in his admin department.

OP here. My attorney told me that the contract was sent via amessenger to buyer’s attorney, but he still has the check. It’s a out of state check, even if he deposits it today, it’ll probably not get cleared until Friday or early next week.

Validity of the contract requires to buyer to countersign. It sounds like you dont even have confirmation of that?

The contract was signed and countersigned. My attorney just told me that the buyer’s attorney has received the signed contract, but he has not deposited the check yet and he plans to deposit it today. I am just worried about the buyer may change his mind in next few days before this out of the state check get cleared.

As an attorney, my view is that if it's been signed and countersigned and returned to you, you have a valid contract.

my husband and i decided to sell his then bachelor pad 2 years ago. we got a signed contract from the buyer and after 1 month, our lawyer tells us that the check bounced. apparently, he was so busy that he just "assumed" that the check was good. we had no recourse according to our lawyer and he adviced us to back out of the deal. we had to go back to market the apartment. it was a pain in the a***ss!!!!!!!!!!!!!! our lawyer told us that we would just waste our money suing so we just went back to market and eventually got the asking price we wanted.

Did you keep the down payment?

No, they did not keep the downpayment--the downpayment bounced .That was the point. I am not an attorney, but I think the attorney was covering his own butt by dissuading you from taking any action. He has to have some major culpapibility here. I know the attorney above(#8) states otherwise, and I certainly bow to his knowledge, but my understanding has always been that not only does the countersigned contract have to be returned to purchaser, but the check needs to be deposited. I am a seller's broker of buildings and I am always ALL OVER the seller's attorney to return the contract and deposit the check ASAP..

"As an attorney, my view is that if it's been signed and countersigned and returned to you, you have a valid contract."

Bingo! It's not about the check.