Legal Question in Real Estate Law in Florida

closing costs

We are currently buying a house in Port St Lucie, Fl. The sale is a short sale and at the advice of our Realtor we submitted an offer to the bank for more than the asking price ($5040 more) and asked for that exact amount back in closing costs. The bank accepted the offer and signed the contract. We are scheduled to close on the house this week, but on Thursday our Realtor called and said that there was an issue and the bank is only willing to pay $1600 at closing. We have a copy of the signed contract stating that they agree to pay $5040 at close, but the Realtor says that the bank is not willing to pay that amount and that somehow there was a mistake made somewhere along the way. Is the bank bound to the contract that they signed stating that they will pay $5040- or are we now stuck either coming up with the money or not buying this house? How do we find out who made this mistake and will getting an attorney involved help us in this situation? Thank you for your time.


Asked on 6/14/09, 11:12 am

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Re: closing costs

Technically, they are in breach and you could sue for specific performance. This may take months to resolve.Read your contract regarding defaults by either party.

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Answered on 6/14/09, 11:35 am


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