Legal Question in Real Estate Law in Connecticut
Kicking Money Back to Buyer at Closing for Repairs
In the spring of 1999, I sold a home in CT and agreed to kick $2000 back to the buyer at closing to help for the cost of replacing the home's roof. About 9 months after the sale had closed, the home burned to the ground. In the local newspaper article that described the incidient it specifically stated that the current owner was about to replace the roof on the house when the fire occurred. The owners insurance company subsequently rebuilt the house from the ground up. Obviously, the $2000 I gave the buyer at closing never got spent on a roof. Since this is documented in the newspaper article, do I have the right to ask for my $2000 back?
2 Answers from Attorneys
Re: Kicking Money Back to Buyer at Closing for Repairs
No, the credit you gave for the repairs to the roof were for the condition the roof was in at the date of closing. Not nine months later. Speak to the attorney who handled your closing for a more detailed explaination; I assume that there was not time limit set or any restrictions on the buyer, it is normally just a credit because of the condition of the roof as of the day of closing. Tom Noonan
Re: Kicking Money Back to Buyer at Closing for Repairs
No. The 2K was an inducement to the buyer. The fact that he hadn't gotten around to it (or might never have) is irrelevant.
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