We have a signed purchase agreement for our condo. We were set to close on Monday, March 13th.
Our broker called us today to advise us the buyers are unhappy with agreed upon electrical work that was performed by a licensed electrician. The buyers conducted an inspection of the property themselves and do not use a House Inspector. During their inspection they requested that we ground some outlets as well as upgrade others with GFI. An amendment was drawn up and we agreed to get the work complete ASAP. The work was performed by a licensed electrician and proof of the work was provided to the buyers.
At the final walk-through, they were unhappy with the electrical work and demanded to speak to the electricians. The electricians came and agreed to stand by their work and make any necessary adjustments at no-charge. This solution has not satisfied the buyers, They have now demanded we provide them with $5000 in escrow to be used to redo any other electrical items that was not identified during their initial walk-through or they will walk away. This was communicated via email to our broker. What is your take ?
What does your ATTORNEY you are using for closing say? Not the broker, not the title company, your attorney? If you dont have one you are already swirling for disaster. You need to get counsel involved TODAY if closing is Monday; and you will pay a premium if things need to be done last minute over a weekend now. But this is something you should have done weeks ago; retain a lawyer to represent you at closing.
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I agree, you need counsel. You are in dire straits. Use Avvo search to find a lawyer!
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I agree. The answer to this question requires a review of the sales contract and the amendments. You need an attorney ASAP as closing is on March 13, 2017
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I strongly suggest that you retain an attorney to review the contracts and amendments. More facts are needed in order to properly advise you.
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My take? My take is that you tried to sell real property in Florida without the assistance of a real estate lawyer, apparently (ack!!) relying only on the advice of a BROKER (more likely a lowly salesperson, not even the company "Broker"). And it has come back to bite you on the ---.
That's my take. Many here in Florida folks do it (not in many other states!) most often just to try and save a buck; others became the greed (or incompetent) BROKER who (quite unethically) persuades them they don't need one.
And I have always love the "passive voice," as it is so illuminating sometimes.
You say in you post, "an addendum 'was drawn up.'" BY WHOOOOOOO, I ask!
This is the most critical fact of your post - as it is the OBVIOUSLY DEFICIENT ADDENDUM that is the problem here! And you don't even IDENTIFY who the culpable party is - the one who is responsible for drafting the thing!
If YOU drafted it, shame on you - that was sure foolish; and if let the buyers draft it themselves - then - what were ya thinking!!
But the WORSE case scenario is - please don't tell me - that the BROKER drafted it for you. See, the reality is, only a LAWYER can draft an "addendum" for another person - so it BETTER not have been the BROKER. If so, that could very likely constitute the unauthorized practice of law (a crime in this state!), But it also means that it wasn't YOU who drafted the thing (that is good), so you at least one person you might potentially hold liable here (i.e., the broker "playin' lawye").
In any event, it is that addendum (that someone drafted) which will likely control here (i.e., along with the rest of the contract) and no one on-line can review those for you. You need to do what you SHOULD have done before you even signed that contract - and 'lawyer-up' ASAP - and STOP listening to your "broker." (BTW I feel I can pick on Brokers this way, for in addition to being Board Certified Real Estate Attorney, and a Law Professor, I have ALSO been a licensed Florida Broker for more than 30 years including stints (in the 90s) on the Fort Lauderdale Board of Realtors Legal Protection and Ethics Committees (which i also Chaired).
Sop listenting to the broker - and consult with, and retain, a good local real estate attorney ASAP.
Hope this helps.
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