Posted by John Merchant on September 09, 2003 at 15:31:53:
Probably legal enough, if you’re not somehow conspiring with buyer to overstate the sales price on a HUD 1 form, or in any other way deceive FHA, HUD, FNMA, etc., which would be Fed fraud.
Certainly a contract can be renegotiated any time until it’s finished, but neither party has to permit or allow any modifications in a valid, existing contract.
If I were you I’d ask some pro, ( better a lawyer, in my opinion), to look at the buyer’s revisions so you can be sure you’re staying legal. Then your lawyer can again revise that revision so as to be absolutely sure you’re staying legal.
If you do ask your lawyer for help, you don’t have to tell the buyer your lawyer IS involved, and only you and the lawyer would know that…this is sometimes best so you don’t scare or spook the other side.