Legal Question in Real Estate Law in Florida
Out of contract
We have a sales contract and an FHA loan. The seller had repairs. He has delayed those repairs and was not ready for closing. We are now out of contract. The seller refuses to sign an extention. What are my rights? Can the contract be saved?
2 Answers from Attorneys
Re: Out of contract
Can you substantiate that he delayed the repairs? If so, you might be entitled to damages. Both parties to the contract are obligated to deal in good faith. Assuming the seller was contractually obligated to make the repairs, his failure to do so would be a breach of the contract.
Since we are dealing with real estate, you might be able to have the Court order the sale.
Look at your contract. Did the total costs of the required repairs exceed the amount speculated in the contract which would have allowed the seller to back out of the deal?
You should schedule a formal consultation with a lawyer. A good means of obtaining an attorney referral is by contacting your State's bar association or your local county bar association. They probably have a web site and charge a nominal fee for the referral. Most attorneys either provide a free initial consultation, or charge a nominal fee.
Good Luck, Elliot Jay Goldstein (Attorney with offices in Tampa and St. Petersburg)
The above information is provided as a courtesy, without any consideration and without knowledge of the specific facts. Do not rely on this information. Seek a formal consultation with an attorney.
Re: Out of contract
Mr. Goldstein is on the mark. It is likely that your contract allows you to sue for specific performance (which means you can force the sale and transfer of title to the property by court order, assuming you prevail) and recover the attorney's fees and costs incurred in pursuing your cliams based on (a) breach of contract and (b) specific performance. Seek the advice of a real estate litigator and good luck.