What do you think of this?
A husband and wife visit an Open House, They like the property and decide to put in an Offer. The husband is an agent and draws up the papers. There are 7 days for financing and home inspection conditions. The deadline arrives, so the husband delivers the Waiver.
Apparently, several hours later, the elderly gentleman who owns the house goes into the garage (not attached to the house) and commits suicide.
The husband and wife are both upset. They now don’t want the house under any circumstances. This will be very upsetting for their two young children, 4 and 8 years of age. They simply tell the children that there is something wrong with the house.
They submit a mutual release ask for the return of their deposit. They can’t afford to buy another house until they get their deposit back. They are TOLD, you have to buy the house, it’s yours, you are not getting your deposit back, and we (the Estate) will be suing you for damages, over and above your deposit.
What would you do? Is the house they will get on closing the same one that they bought? Is it worth the same money? Is there now a stigma?
The Estate lawyer just says “that’s too bad…… you still have to close”. The two daughters, who are now the only beneficiaries of the Estate, simply say that they are going along with what the lawyer says. The Listing Agent says “it’s out of my hands”.
The husband and wife will not close and they are particularly anxious due to the potential impact upon their children. Is there any kind of remedy?
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