If the house is NOT completely done we are not closing!

By
Real Estate Broker/Owner with Richard Weisser Realty

If the house is NOT completely done we are not closing! By Richard WeisserThe buyers were adamant. “If the house is NOT completely done we are not closing!”

My response was probably not what the buyer’s expected:

I suggested that their best course of action would be to speak to an attorney.

I am a real estate broker. I fill in the blanks on contracts but I do not interpret them. I can not suggest courses of action regarding the contract or discuss the possible remedies contained therein.

It’s hard to keep quiet. I saw the disappointment in their faces. But my role in the transaction is very limited. And I cannot stray beyond the boundaries of my discipline.

I really wanted to help.

 

And I think that I did by making the best suggestion that I could have in that situation!

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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

As a buyer I wouldn't close on an unfinished house.  As a broker, I'd have to advise my clients the same way you did.... I might give them a list a real estate attorneys I knew would know how to advise them well, but it stops there for legal advice from me.

Jul 11, 2014 08:15 AM #1
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Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Tammy...

For some reason, buyers of new construction are more likely to forget that there are always two sides to every contract and that when a house is "finished" is subject to interpretation.Especially when a Certificate of Occupancy has been issued by the governing municipality. As you stated. a lawyer can best advise them on a strategy for getting everything done.

Jul 11, 2014 08:47 AM #2
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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

We always stress from the first meeting the fact we are in real estate NOT legal issues. 

Jul 11, 2014 09:14 AM #3
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

YOu did the right thing.  That one screams litigation.  It is very hard not to give your opinion

Jul 11, 2014 09:51 AM #4
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William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Hi Richard, Doesn't the lender funding the loan require a certificate of occupancy to be able to close?

Jul 11, 2014 03:38 PM #5
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Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

I think many buyers fail to understand the limits of real estate agency. 

Jul 16, 2014 03:57 AM #6
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