Did your lawyer review the agreement before you signed it and fail to set any deadlines for closing or termination? If you asked to set a deadline and were refused before signing, that should have been a red flag to terminate negotiations. Is there language that your acceptance of a partial payment acted to extend the term of the agreement? Or did that acceptance compromise your legal rights under state law? No one sends money as “good will” but rather as a way to cement their rights under a contract. Is there a penalty clause if you terminate the contract? Consider getting a second opinion from another attorney about your right to demand the purchaser conclude the sale or release you. You may need to refund any payments received to date.
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