Legal Question in Real Estate Law in Florida

I am buying REO property in FL. Yesterday I have signed all the papers and gave the check to the title company(cash deal). They told me that I would get my keys the next day. Two hours later listing agent contacted my agent and said that the tenant who had to move out last week never actually moved out and want to extend his lease agreement for 90 days...

I still want to buy this property. However, bank did not announce me their decision yet. In the mean time my current lease expires in 10 days and I have to decide what I am going to do.

What are my right is this situation? If there is a chance that bank will say they can not to sell this property? Or if they will offer me to wait till the property become vacant are they responsible for any extra cost I will have?


Asked on 11/18/09, 12:28 pm

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

It is unclear whether you have an agreement or not. If you do, then it should provide for a closing. You would be entitled to position at that time. If you have no agreement, then the owner can always change its mind and decide not to sell to you. Unless you have an agreemment, they will not be responsible for any extra costs. If you have a contract, their responsibilities are governed by the contract.

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Answered on 11/24/09, 8:15 am


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