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Updated over 6 years ago on . Most recent reply
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4Plex Closed - but buyers didn't get something on list, now what?
Here's an interesting one: who is responsible -->
My client sold a 4plex - in the negotiations they agreed to cover costs for a Home Warranty for the new buyer. 60 or so days later - the property closes at a title company. After it records, the next day - we notice that funds for the home warranty were not taken at closing - as they should have been. Now the buyers realtor is asking if the seller client will write a personal check for ~$1,200 for the warranty. I and the seller agree - if it was agreed to - then it is fairly simple on a moral/ethical ground - that the buyer deserves the warranty. The question I really have is - does someone else pick up some of the responsibility along the way. The buyer's realtor should have ordered and tracked the warranty, the buyers title company is looking out for these things as well - do either of them - having let the deal close and record - now bear any of the responsibility? Does the seller retain the full legal responsibility of the warranty? Thanks in advance!
- Jamie Rose