Tampa, FL · Member since 2015 · 145 posts · 47 votes
Hi All, my question is I have a contract on selling a home of which I had to complete many things like a new roof, HVAC, and plumbing. The contract to supposed to close on last week and now they say they are still waiting on the appraiser to go and reinspect the home so the VA can provide the loan. I have been patiently waiting but no longer am willing. So my question is this: I sent a termination of the Real Estate contract to the buyer and he is refusing to sign. So 1. am I obligated to sell to him since he provided the appraisal and inspections. 2. If I decide to keep the property what ramification would this have since he refuses to sign the termination doc as I would like to keep the property? 3. Lastly, he has been staying in a hotel the last 2 weeks would I be obligated to pay for his lodging?
If you are under contract and the settlement date has already passed, technically you would need an extension to keep the contract alive. Was there an extension signed? If not, the contract is null and void.
Hi @Jenni Ellis, no there was no extension signed. So I don't owe him anything correct? I can walk away and keep the property so what happens to the termination contract since he refuses to sign it?
Hi @Jenni Ellis, no there was no extension signed. So I don't owe him anything correct? I can walk away and keep the property so what happens to the termination contract since he refuses to sign it?
Miguel- I am in MD, so I can't fully speak to Florida. Are you working with an agent? If the contract was not fully finalized in the correct timeframe, you are already out of contract. It should be a unilateral termination.