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Updated about 9 years ago on . Most recent reply

User Stats

12
Posts
1
Votes
Justin Mariniak
  • Investor
  • Tampa, FL
1
Votes |
12
Posts

Trouble on first deal

Justin Mariniak
  • Investor
  • Tampa, FL
Posted

Hello everyone,

I am am having an issue that is starting to worry me on my first deal.  It is a duplex and is being sold by owner.  I have an agent that has helped me with all of the information and the contract and all of the specifics.  The contract was signed two weeks ago by the owner and myself with a closing day at the end of February.  Recently when my agent spoke with the owner, she was under the impression she would continue to stay in the residence for at least two weeks after the closing.  When the agent informed her that the house is to be vacated on closing as is done typically in Florida, she became obstinate and threatened to re-market the house back onto Zillow, with the contract still in place, unless she is allowed to reside in the house for the two weeks.  This causes problems for final walk through and me ultimately moving into the side she is currently occupying.  Now I am seeing the house listed back into Zillow at a higher price.  I have started to pay mortgage fees, title loan, and even had a home inspection performed.  Should I be worried that she can back out of the deal with no consequence?  I really want the house, but at the very least I do not want to lose all the money I have spent already.  Please let me know if anyone has dealt with an issue like this before.  Thank you guys for listening.

-Justin

Most Popular Reply

User Stats

307
Posts
127
Votes
Benjamin Pekarek
  • Rental Property Investor
  • Asheville, NC
127
Votes |
307
Posts
Benjamin Pekarek
  • Rental Property Investor
  • Asheville, NC
Replied

If there's a signed contract, she cannot just back out. She should have read her contract!

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