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Any real estate attorneys/agents/experts?

S

Shooshmoo

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We are under contract to buy a house (offer accepted, inspection done, in attorney review period). We asked for credits/repairs based on the inspections and a couple of follow up appointments -- legit stuff, like radon, mold on decks. We reserved the right to withdraw the request for credit/repairs in a letter to their attorney. They came back and said the inspection process took too long and that they do not agree to do repairs or provide compensation of any kind. Their attorney said that, pursuant to the attorney review clause in the contract, she disapproves of the contract and they are attempting to terminate. We responded by saying we'll take it "as is" and that we reserved the right to withdraw credit/repair requests, etc. They're standing pat. Anything we can do -- lawsuit or otherwise?

For the sale of our house, the mortgage contingency expires on on Monday (after a couple of extensions). If they are able to get approval on their mortgage, can we cancel, and with our without penalties?

In Illinois. Our agent is terrible and the jury's out on our attorney. My wife and I are both attorneys but not that kind of attorney. Any help is much appreciated.
 
LOL. That was great, Drew. And just take a look at the contract and see what it says.
 
Is this house worth it? There is always a better one that opens up two weeks after you buy.
 
Deacon92 said:
Is this house worth it? There is always a better one that opens up two weeks after you buy.
Click to expand...

We feel like we got a real steal and that they're realizing it. We just want to try to tie them to it or make them pay for costs already incurred. The contract doesn't help us, balls.
 
It probably depends entirely on the state, but wouldn't you have a case to sue for specific performance? It's usually pretty damn hard for a seller to get out of these contracts imo.
 
Real estate laws vary by state, but usually it is difficult for a seller to get out of a contract they have signed off on. If there is no specific clause in the contract that says inspections have to be done within X days, then they should be held to the contract unless state law allows them to cancel at any time (highly doubtful). The attorney review clause is a bit more problematic, but it may be a "time is of the essence" clause (like they are trying to say the inspections are) so double check on that. If the clause gives them the right to renege on the contract at any time because the attorney says so, then that sucks but there is nothing you can do. Overall, though, unless you are willing to go through a lengthy and expensive legal process, it is probably better to walk away if they feel like being dicks about it.
 
There was an old lady, who lived like a Shoo..
 
The good news is that real estate contracts are pretty uniform by state (normally each state's association of realtors approves a general contract) so theres probably some appellate authority clarifying every questionable provision of the contract. The bad news is that under general contract law, a request for repairs made after an acceptance will convert the acceptance into an open counter-offer. I don't know what legal effect the fact that your counter-offer was "withdrawable" would have. If the Seller has another Buyer waiting in the wings, maybe the threat of suing for specific performance and filing a Lis Pendens on the property would be enough to make the Seller pony up some money to at least reimburse you for attorneys fees, home inspection, and appraisal.

And just MHO, but I wouldn't consider radon and mold on the deck to be legit concerns when buying a house. I know that radon causes cancer, yada yada yada, but in my experience that is not often raised as a major cause for concern in the same way that structural soundness or water damage would be.

The best advice I can give you when you're in the market for real estate is to get a revolving line of credit on other property you own, so that when you find a great deal you can make an offer without a financing contingency. Mortgage companies are ridiculously slow right now, and Sellers will accept a cash offer over a to-be-financed offer 90% of the time, and sometimes for less money.
 
Holy shit. This is thread is like if [Redacted] came onto the sports board and asked for coaching advice.
 
Shouldn't you just ask your boy RJ? He seems to be the legal expert on everything! Surely between mall openings and laying down tracks, he could hook you up! Afterall, he posts on every legal and real estate thread!
 
Sgt Hulka said:
Shouldn't you just ask your boy RJ? He seems to be the legal expert on everything! Surely between mall openings and laying down tracks, he could hook you up! Afterall, he posts on every legal and real estate thread!
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not cool
 
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