Home Buying in Fallston>Question Details

Sharpey, Home Buyer in Fallston, MD

Is there a 3 day right to rescind attorney review period in maryland for sale of residential property?

Asked by Sharpey, Fallston, MD Tue Jan 25, 2011

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Sharpey,
No, there is no 3 day right to rescind on the purchase of real property in Maryland. If you feel the need, you should have an attorney review the offer before everyone signs and it becomes legally binding.
The use of an attorney to review contracts is not all the usual in Maryland. Here, buyers and sellers depend on their real estate agent to explain the contract and all the ramifications.
If you have an experienced agent, who is thorough and makes you a priority, you should feel secure in your decisions.
If the home is within a Home Owners Association you will find you have the right to rescind the contract up to 5 days after the seller provides the HOA documents. Maybe that would make you feel a little more comfortable.
Sharpey, I am a resident of Fallston and very familiar with the area, the schools and exactly what makes Fallston special. Feel free to contact me any time if I could help in any way.
Fran Gunnarsson
Associate Broker
Keller Williams American Premier Realty
410-459-5818
2 votes Thank Flag Link Tue Jan 25, 2011
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