Legal Question in Real Estate Law in Florida
I have a contract to rent to own and purchase the home for $109,000 or the appraised value whichever is lower. The appraisal came in at $90,000 and now the owner does not want to except the offer which will cause me to lose my stimulas opportunity. Any recourse?
1 Answer from Attorneys
If you have a fully executed purchase agreement, (signed by all title holders), and the terms are as you state, then you have the power to force specific performance by the the sellers. You must have fulfilled all of the conditions and requirements placed on you, in full performance of the contract. If the seller fails to complete the sale, in accordance with the specific terms of the contract, he/she could be liable for consequential damages that you incur including loss of stimulus benefits. You need to hire a real estate attorney to review your documents.
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