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Updated about 8 years ago,
Ghost Seller - Do I Need a Closing Attorney?
Hey BP Family,
I signed my first contract with an absentee seller about 2 weeks ago for a 2br 1bth house. After signing at the attorney's office, I told them that I would stay in touch with them at least once per week regarding the process. In the contract I had several "Subject To" contingencies one of which was inspection. Well I hired an inspector to come out to the property and he pretty much "trashed" the property and basically said it was just shy of a tear down. I knew it was bad but didn't know how bad until the inspection. Well, I believe that the inspection result satisfies my subject to exit. As I mentioned earlier, I informed the seller at contract signing that I would keep in touch with them and I have, but have never been able to get them on the phone where as before the signing, I had no problem getting them on the phone. I'm questioning whether they are taking the contract seriously even though we signed it in front of an attorney.
Questions:
- I plan on trying again today to contact the seller with the results of the inspection and possibly renegotiate the purchase price or execute my subject to clause in the contract. What happens if I can't get in touch with them? Do they have to be involved for me to execute my subject to clause?
- I haven't given the seller contract to my closing attorney yet. I wanted to wait for the inspection results first before I did that to hopefully avoid any necessary fees especially if I was not planning on going thru with the original contract based on the inspection results. Do I need to contact a closing attorney in order execute my subject to inspection clause?
- Exactly how do I execute the subject to inspection clause based on my results?
Thanks in advance for any assistance!
Letron