Hiring the Right Realtor and Lawyer is Crucial
Are Contracts Binding?
What is a written and fully executed contract for if the parties to the contract will not honor it? What does it serve if the lawyers can’t impose it?
I would say this over and over again. Some lawyers just don’t have the balls when they are up against another more aggressive lawyer. I could see a tail tucked over an orifice, straight past the reproductive organ and ending underneath the belly.
Quite a description!
Why Do You Need an Experienced Realtor and Lawyer? The following scenario is just one of the many complications and issues inherent in real estate transactions. That is why it is important that you have the representation you need to guide and protect you throughout the process.
The Terms and Conditions of the Contract
The buyers and the sellers agreed to a “Sold as Is” contract.
The buyers had a seven-day home inspection contingency date. My sellers had only twenty-three days left to find a rental place. It was a short period to look for a suitable place but finding a rental versus a home to buy was much more doable.
Besides, the sellers chose not to negotiate the closing as the buyers for the property that my sellers’ buyers were buying needed to close on time.
Hence, both parties compromised to reach a mutual agreement. That was the beauty of negotiation. The willingness to compromise would yield results.
The Home Inspection
The buyers had the home inspection conducted on the 5th day after the contract was executed. Despite the “AS IS” clause , I know that the buyers would still have the audacity to come back for home inspection request.
On that same day, the buyer’s agent informed me that there was not enough hot water and asked for the furnace to get serviced. The good part of her call was that they already have a clear to close on her clients’ property.
After conferring with my sellers, I was told that “there is hot water” and it is sufficient for his needs. However, he would have the furnace serviced as he has a maintenance agreement with an oil company and it was due for a service anyway.
So the service had been done last week.
The Home Inspection Contingency Date
This Monday, the buyers and the agent went back to the sellers property to measure the windows. That was what the agent told me.
Then yesterday, the buyer’s agent called me. Yesterday was the sixth day past the home inspection contingency date. She told me, “There was no hot water. Didn’t the technician fix it.”
I told her that the furnace was serviced. Now, the answer to the question of whether fixing the hot water was part of the routine maintenace or not was not something I have an answer to right away.
However, what I did know was the sellers did not have to fix anything as we did not get any official request from the buyers. Did I tell you that 6 days had already elapsed from the contigency date?
Moreover, I called the company which serviced the furnace and took the details from the technician’s evaluation. There is hot water but it will not be enough for a family with number of kids.
Getting the Lawyers Involved
After three hours from the time the agent called, my sellers’ preferred lawyer called me. He asked about the situation with the hot water. I told him I did not get any document asking for remediation. “Besides, we are way past the home inspection contingency.”
He said, “Okay. I will talk to the other lawyer.” At that moment, I was liking that kind of lawyer. But my first impression took a different turn when one of the sellers called me in the afternoon. With his guttural tone, I could tell that he was upset and nervous.
How could he not be nervous when his lawyer told him that the buyers are backing out if he does not fix the hot water. My male client is nearing sixty. Not that old but he gets agitated and nervous easily.
I never got the inkling that the lawyer would tell him to fix it without procuring details from a third party—me– for instance.
Why would that lawyer not fight for his clients? I don’t want to see this contract fell through. But to have my clients responsible 100 percent for that hot water, in my opinion, is just not right. The buyers did not present the “Notice to Unsatisfactory Home Inspection Request” within the stipulated period.
So please go back to the other attorney and present your valid argument. Some things are not made to be easy for all of us. It is the challenge and how we surmount it that makes us shine.
If you are looking for buyer or seller representation in Hartford, Tolland and Middlesex Counties, look no further. Contact me for a free consultation. Make a right decision by doing so.
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