These Recorded Governing Documents basically tell you what you can and cannot do with the property you are buying. However, they are generally overlooked because they are lengthy, tedious, legal documents, and real estate agents and title companies cannot review and interpret them for the buyer because they are not attorneys and cannot give legal advice.
This article is the second in a series entitled “When Can You Get Out Of A Contract Without Adverse Consequences?” In last month’s article the topics for this series were introduced, and the topic for this month is the financing contingency. The focus will be on the financing contingency in the St. Louis Association of Realtors Residential Sale Contract (the “Contract”).
Michael Doster, Attorney at Law (and general counsel to Wm French) will shed some light on commonly asked questions about getting out of a real estate contract.