Legal Question in Real Estate Law in Virginia

Contract obligations
I listed my home with real estate broker and she did not have an appraisal completed prior to listing. We listed the home for 239,000 and real estate broker hoped to purchase the home and subdivide the land. However, the land did not perk where she wanted to put septic system. She found buyer for 237,000. An appraisal/inpsection was ordered by purchaser. The home appraised at 290,000. On inspection it was found that the septic system needs repairs in excess of 14,000. The contract states that I have option to pay 500.00 and refuse excess. Purchaser has option to except property as is or terminate contract. He will not pay any part of septic system repairs and stating that I am responsible for repaying him for appraisal, home inspection, termite inspection, water/well ect.. that amounts to approx 1000.00. If I am reading contract correct the purchaser is responsible for those costs and does not specify what would happen in this case or termination of contract ?

Asked on 4/19/06, 6:46 pm

Robert Strupp Robert J. Strupp,Attorney at Law, PLC

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Re: Contract obligations

It is not possible to answer this question without reviewing the contract.

Answered on 4/20/06, 4:45 am

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