Legal Question in Real Estate Law in Virginia
seller in land contract
The escrow agent has contacted me stating the purchaser has secured a contract for the sale of my home.He wants me to ok for him to deliver the deed of conveyance to the closing agent.The problem is the purchaser has failed to make the last monthly installment and late fees.Nor has this individual paid condo fees w/in the term of the contract.The contract states purchaser is liable for the condo fees after the date of possesion.When the contract was delivered to me 2 weeks after it was signed by our agent/SPOA.We questioned him as to where to send the info for the assoc fees to be paid.He then advised us that we were to pay the fees because it was included in the contract as a lump sum fee to his company that was named property manager.That info is no where in the contract.Now I'm being advised I have no grounds to collect said fees because of scriveners error even though the purchasers atty wrote the contract.Do I have to release the deed?Can I hold her in default if the monies due are not paid by the exp date?
1 Answer from Attorneys
Re: seller in land contract
Why would you want to complete the sale of the property and deliver the deed to the closing agent(who probably has her own agenda)before the escrow agent has all monies due and owing under the contract securely in the escrow account?
Furthermore, based upon your statements, it would not appear that the association fees are enforceable under this contract.
If the purchaser fais to pay all monies which are owed by a particular expiration date, then she
has failed to perform a very material part of the contract and, therefore, she would be by definition in breach of the contract.
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