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Updated over 4 years ago on . Most recent reply

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Benjamin Giles
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Seller Compensation for failure to produce docs

Benjamin Giles
Posted

I am wondering if There is a precedence to legally force compensation from seller for expenses thus far (Inspection, agent, time, wire xfer fees etc.) in a deal that is under contract signed by seller requiring sellers disclosure but has not provided during due diligence?

To be clear...I want to close and have made good faith effort on all aspects however seller has allowed due diligence to lapse without responding with requested items. (The contract states the sale is not considered as-is if a due diligence period applies.)

As I am seeking a possible precedent rather than a suggestion on what I am able to do, I would greatly appreciate an informed technical/legal response rather than speculation. 

Thanks in advance!

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

@Benjamin Giles Precedents don’t really matter....besides, we have no idea what state you are in.  Any possible right you have to collect will be determined by the language in your contract, which is not likely.....nothing else matters.  Certainly not worth the expense/effort just for inspection costs.

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