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Updated almost 9 years ago,
Attorney says residential prop sale is a commercial transaction
So, got a residential seller in Maryland who wanted to have her attorney draft a contract.... I reviewed it and made some modifications to it and emailed it back to the attorney. He responds with this:
"It is my understanding that Ms. Seller has arranged for us to meet on April 1, 2016, Friday, at 4:00 pm. As you prepare for this meeting, please keep in mind that the contemplated transaction is a commercial transaction and your LLC is a residential consumer purchaser. As such, Ms. Selelr does not intend to extend a residential disclaimer or warranty of any kind for this sale. The property is to be sold "AS IS", only."
Now I really don't care about the MD Real Estate Commission Disclosure/Disclaimer statement it was her attorney who put it there in the first place, however, they were cherry picking portions of it to make the contract one sided so I insisted that the whole form be used since accordign to MREC sellers are required to provide one.
But now my question is does anyone know what he is talking about when hey says this is a commercial transaction and my LLC is a residential consumer purchaser?