What happens when Your APPROVED and the buyers Attorney demanding to see Permits..
We have been approved for a BOA Short Sale for 2 weeks now, but the buyers Attorney is demanding to see permits. I have submitted all the Permits since this home was just buildt in 1988 with only one owner. I thought this was SOLD AS IS but now this attorney is holding up the process and we may have to re-submit the Short Sale package if we don't meet the deadline to CLOSE on this deal.
Any thoughts to help me move this Attorney along.
Replies to This Discussion
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Permalink Reply by Alan Remigio on
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When ever, I have a buyer's attorney request an action outside the scope of the contract, especially one with an "as is" provision, I do a trade. It's a little softer than a demand to perform, but keeps that last option in the bag. Best done with your co.'s in-house attorney. Remind buyer and their reps that this is an "as is" sale, get acknowledgement and then tell them that you insist, in writing, that it does not hinder the sale. Keep that stance, and as Robert mentioned, play the last card and demand to perform based on what provisions are in the contract, of course. Each state has different views on this, so it is best to always have several legal friends to confide in from time to time. If buyer really wants the house, they can simply tell their attorney to back off.
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Permalink Reply by Donna Paul on
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Thanks for your thoughts on this one... I am trying to work with the buyer's attorney and taken a soft apporach to this so I've contacted the seller's attorney and they are getting the tiltle company to clear all the permits on the home. I believe that the next time around i will be putting in BOLD SOLD AS IS..... for future S/S....
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