Steven S. Bloom, Esq.
Cushner & Bloom, P.C.
1170 Beacon Street Brookline MA 02446
The Rhode Island Supreme Court licenses all attorneys in the general practice of law. The court does not license or certify any lawyer as an expert or specialist in any field of practice.
Steven Bloom, Esq., is licensed to practice in the Commonwealth of Massachusetts. Steven Bloom, Esq. is also licensed to practice in the State of Rhode Island.
Our Office is located in Brookline, Massachusetts. The information provided in this Web Page Set is offered for informational purposes only; it is not offered and does not constitute legal advice.
Cushner & Bloom, P.C. does not seek to represent you based upon your visit or review of this Web Page Set.
The information provided in this Web Page Set is offered for informational purposes only; it is not offered and does not constitute legal advice. Although we intend to keep this information current, we do not promise or guarantee that the information is correct, complete or up-to-date. You should not act or rely upon the information in this Web Page Set without seeking the advice of an attorney.
Cushner & Bloom, P.C. does not seek to represent you based upon your visit or review of this Web Page Set. The attorney-client relationship does not begin until Cushner & Bloom has evaluated the potential client's case and a contract between Cushner & Bloom, P.C. has been agreed upon.
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Sellers and Buyers
Purchase and Sale Agreement
Usually, once the Seller has accepted the Buyer's Offer and the Buyer has had the property inspected for things such as lead paint, wood-boring insects and the structural integrity of the house, the parties will enter into a formal, binding contract, commonly know as the Purchase and Sales ("P & S") Agreement. The P & S Agreement contains all of the terms of the contract, such as the price; precisely what is being purchased; the closing date, time and location; any "escape clause" excusing either parties' duty to perform; financing contingencies; brokers' fees; conditions precedent to the closing (things which both side must do, such as making repairs, getting permits, etc.); the condition of the property at the time of closing; and many, many other important terms. Many important terms which should also be included concern the parties' respective rights should something go wrong or if an unexpected events occurs during the transaction. It is a legal document and each party should have their own lawyer review it before signing it.
"Time is of the Essence"
If the parties impose certain deadlines upon themselves in Offers to Purchase or in Purchase and Sale Agreements, then they generally will be held to those deadlines. There are referred to as "time is of the essence" clauses. Such clauses can only be waived in very specific situations, either expressly or by special words or conduct. You should consult a qualified attorney if you have any questions on the effects of deadlines stated in an agreement.
Phone: (617) 608-0019
Fax: (617) 608-0022