Unless the contract has special provisions for adjustments, including those for unanticipated costs or modifications in market conditions, the seller often cannot raise the price after it has been signed. The provisions of the contract bind both parties legally. So to answer your query, “Can seller increase price after contract signed?” I can say that any adjustments to the price should be approved by both parties and recorded in an amendment.
Can Seller Change Price after Contract Signed?
No, a seller cannot legally increase the price after a contract has been signed. Once a contract is signed, both parties are bound by its terms, including the agreed-upon price. If a seller attempts to raise the price, it would typically be considered a breach of contract.
However, as I already mentioned some contracts may include clauses that allow for price adjustments. If no such clause exists, the original price must be honoured.
If you encounter a situation where a seller tries to increase the price after signing a contract, consulting a legal professional can help you understand your rights and options. Getting legal counsel guarantees that each party is aware of their responsibilities and rights. Hope this helps!
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Authors Of The Question
Can Seller Increase Price After Contract Signed?
Trisha
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2 months
2024-09-30T10:36:39+00:00 2024-09-30T10:37:49+00:00Comment
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