Refer back to the four corners of the contract before proceeding.
Buyers and sellers come together in agreement, are soon under contract and the due diligence process begins. Based on the condition of the home, the sellers agreed to allow X-amount of dollars in repairs to be written into the offer to purchase.
Close to the settlement date, the sellers find themselves renegotiating the contract because the lender refused to accept the repair terms. Now, the buyers want more 'help' with so-called repairs and asked for a check to be written by the sellers outside of the contract.
The buyers may be perpetuating mortgage fraud and I strongly advised my clients to avoid that route. Their agent told me to get out of the way, to allow the buyers and sellers to work this out. At that point, I refused to get out of the way, not going to happen!
I suggested that the agent meet with the buyers and refer back to the four corners of the contract before proceeding.
Your thoughts?
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