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Home Q&A Forum What happens if a purchase agreement expires?
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Real Property

Purchase Agreement

California

Asked on Oct 31, 2023

What happens if a purchase agreement expires?

I recently entered into a purchase agreement for a property with a seller. The agreement had a specific timeline for when the purchase needs to be completed, but that timeline is quickly approaching and the purchase has not yet been completed. I am unsure of what happens if the purchase agreement expires and I would like to get more information from a lawyer on the potential implications of the agreement expiring.

1 Attorney answer

Answer

Real Property

California

Answered 398 days ago

Sarah S.

ContractsCounsel verified

Business Lawyer
Licensed in California
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Member Since:
June 19, 2023

As long as you have an accepted offer the contract is valid and enforceable, regardless of the purchase agreement date; However, if there is a termination clause in the agreement or any language that might trigger termination after expiration, then the contract might be invalid. You need a lawyer to thoroughly review the contract.

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