All Forum Posts by: Santo P.

Thank you for all of the feedback. We have scheduled a meeting tomorrow with an real estate attorney to review the contract in depth and explore our options.

Great community!!

I don't want to terminate the contract. Any strategies to consider?  

@Jay Hinrichs why can't I cloud the contract? 

Thank you, everyone.

We have brought it up with the seller's agent to convey it back to the seller. Per the agent, the seller is not open to a concession and will not even address the tenant that just moved in. Any suggestions on how to lead the conversation towards more favorable concessions terms. Now I find out I might even have to change the type of insurance on the unit. 

Is clouding the contract a good strategy?

Thank you in advance,

SP

Buying my first condo in Miami using a 5% conventional loan that stipulates primary residents. Contracts specifically notes delivered vacant. Closing in a few days. The seller has a new tenant with a one year lease that started a few days before we are scheduled to close. I personally don’t mind having the tenant their but the contract does stipulate delivered vacant.

What concession should we ask for? We asked the seller to pay the maximum amount towards closing (3%). Per their agent, the seller refused.Can’t afford is the excuse.

We close in a few days. I do want the unit and don’t mind the tenant but I did not agree to take on a tenant with the hassles of starting  a 90 day eviction notice and let alone the rent is for less than I would have accepted. This is principle and business.

Should we wait until closing and force they’re hands using the vacancy clause? Asking for $10k towards closing. If they counter with a lower amount, better then nothing. How do we bring them back to the table?

AS IS” Residential Contract For Sale And Purchase (Florida Realtors)