Buyers addendum to contract
The buyer wants an addebdum to our sale contract stipulating
repairs to driveway and installing smoke alarms. House was
listed for sale as-is. Our broker waited 2 weeks before
giving us (sellers) the addendum. I do not want to do repairs or offer a credit for cost of repairs. Buyers have signed the addendum. Our broker says not to worry about it.
Only 3 weeks left until settlement. Will we have to sign addendum at settlement?
Asked on 10/11/03, 11:32 am
1 Answer from Attorneys
Robert Sher
Wagshal and Sher
Re: Buyers addendum to contract
Your question omits important facts. Was there a signed contract--by all parties--followed by the buyer's proposed addendum? If so, you have a binding contract and can reject the addendum. Or was the addendum submitted as part of a counter-proposal during the original negotiation process? If this is the case, you don't have a valid contract yet. I'm assuming the former case if your broker is telling you not to worry about it. But I suggest you tell your broker to advise the buyer's agent to inform the buyer that you're not agreeing to any repairs or credits so there's no misunderstanding at settlement.
Answered on 10/13/03, 9:51 am
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No good buyer This is a follow up question.... Asked 10/09/03, 11:01 am in United States Maryland Real Estate and Real Property
