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Results 1 to 7 of 7
  1. #1
    homeguru99 is offline Renter
    Join Date
    Sep 2009
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    2

    Default Can I refuse to sell due to late request for repairs?

    I'm selling my home. As anyone who is selling a home, you have to make big decisions. I had planned to move and accepted a new position and gave my notice. As it turned out, the buyers drag things along forever!

    As I read through my contract, it stated that they have 20 days from the time the home went under contract, until they must have their inspection and submit their request for repairs. The home officially went under contract at 11:08 AM on August 1st. That is what time I E-signed it and what time the documents show it was signed. On the morning of August 21st I called my agent and made harsh demands to get me their damn request for repairs as it had now been 20 days! . I was getting nervous and scared as I had given notice to my employer and signed a lease and was making preparations to move. Since this was the final date for me to back out of all this, I freaked out. At 3:15 that afternoon, I called my new job and declined the position. I quickly phoned my new boss and told her I did not wish to quit. I terminated my lease with a option to get out.

    Their request for repairs was finally faxed to me agent at 9:13 PM. By this time, I was so upset, I told my agent, they did not get their request for repairs to me within the 20 days, as it had now been 20 days and 8 hours! Technically over.

    I do not feel guilty as these buyers had their inspection done and waited and waited, as they went and looked at other homes. They were kind of playing games, so I figured I would use a technicality as an out.

    Well, my agent is mad as can be. She said that since they submitted it ON THE 20th day, it is still within 20 days. I told her 20 days ends at the 20th day at the same time of day the contract was agreed too. Who is right?

    I know you all are agents and sales means your income, but try and answer this based on what is legal. Am I correct in stating it was over 20 days?
    Last edited by homeguru99; 09-19-2009 at 06:03 AM.

  2. #2
    dognponyshow is offline Fixer Upper
    Join Date
    Aug 2009
    Location
    Maryland
    Posts
    30

    Default

    Quote Originally Posted by homeguru99 View Post
    I know you all are agents and sales means your income, but try and answer this based on what is legal. Am I correct in stating it was over 20 days?
    Real estate sales people are specifically prohibited (in most jurisdictions of the US) from giving legal advice, so that's a non-starter.

    If I were going to offer real estate advice in response to this posting, it would be aimed at the listing agent, and would involve a large stack of papers, some lighter fluid, and an open-burn permit.

  3. #3
    Greg is offline Moderator
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    Sep 2007
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    Outer Banks
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    Default

    Depending on where you are, it did not become a contract when you signed it. It became a contract when the offer with your signature on it was conveyed to the other party.

    What if you had signed it and held onto it for 20 days? were the buyers with you at 11:08AM?

    As for getting out of the contact it would depend on what your contract says but in NC if the buyer misses the inspection deadline it does not cancel the contract, it just means the seller is not obligated to do any repairs.

    It sounds like you need to pay for some legal counsel as your actions might have put you in a bind. If I were the listing agent I would be looking for a commission and the buyer might want to force you to sell. Get a lawyer.

  4. #4
    homeguru99 is offline Renter
    Join Date
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    Default

    Quote Originally Posted by Greg View Post
    Depending on where you are, it did not become a contract when you signed it. It became a contract when the offer with your signature on it was conveyed to the other party.

    What if you had signed it and held onto it for 20 days? were the buyers with you at 11:08AM?

    As for getting out of the contact it would depend on what your contract says but in NC if the buyer misses the inspection deadline it does not cancel the contract, it just means the seller is not obligated to do any repairs.

    It sounds like you need to pay for some legal counsel as your actions might have put you in a bind. If I were the listing agent I would be looking for a commission and the buyer might want to force you to sell. Get a lawyer.
    Huh? Since when does the seller have to ever do any repairs, late inspection or not? All the contracts I've ever read state that the seller can agree to all, some, or none of the requested repairs?

  5. #5
    Nick Brian is offline Condominium
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    Sep 2009
    Location
    New York
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    Default

    Expiring the mentioned 20 days doesn't expire the contract. The claus in the contract can be obsolete. Whatever get a lawyer. Or discuss it in legal issue thread. Hope you find an expert. I guess this will help.

  6. #6
    Greg is offline Moderator
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    Sep 2007
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    Default

    Quote Originally Posted by homeguru99 View Post
    Huh? Since when does the seller have to ever do any repairs, late inspection or not? All the contracts I've ever read state that the seller can agree to all, some, or none of the requested repairs?
    If you are such a contract expert then why are you asking us?

  7. #7
    ohioreoexperts.com is offline Fixer Upper
    Join Date
    Jul 2009
    Posts
    33

    Default

    Greg is right about when officially it becomes a contract. If you had esigned it and then held onto it before sending it over, it still has not been conveyed to the buyers therefore not officially in contract. Since you do not know when that was, you do not know if they were out of the deadline period or not.

    Because they did not meet your interpretation of the inspection deadline does not mean the contract is null and void. Please look over your contract. Most of the time, it simply means the buyers are going to be taking it "as is" without asking you for any repairs. It also means they cannot back out due to repairs needed they didn't see or know about unless their financing specifically prohibits it (financing contingency). When you look over your contract, you'll probably find this or something similar.

    At this point, legal counsel may be your best option. If you choose not to use legal counsel, the best advice I can give you is to keep a cool head and do not make quick or rash decisions. Your Realtor, regardless of who is correct, has every reason to be upset.

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