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Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 54008
Experience:  Attorney with 29 years of experience.
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I am selling a house in pa. The buyer is a real estate agent

Customer Question

I am selling a house in pa. The buyer is a real estate agent that seems a little shady and I no longer trust my broker. We signed a contract that I don't think my realtor even reviewed. The guy who is supposed to buy it's father signed instead of him, it had the wrong settlement date, jan 2015. My realtor said he had to send an addendum to the contract with the correct date, which he hasn't done. We also had in the contract that I would give him $1500 credit for home repairs, which he now wants to change in the contract to for closing costs because even though it is supposed to be a cash deal he now says he is getting a mortgage. My realtor said he needs to get into the house asap with a contractor (and was going to just give him a key!) regarding some cosmetic changes he wants to make.
My questions are does the contract stand as is given it had the wrong settlement date? Should I wait to let him in with a contractor until the addendum is signed on both sides so he can't suddenly say he needs $10000 in the contract? Should I let him change the credit for repairs to closing costs? This is the first house I am selling and I am not sure how to correctly protect my interests.
Submitted: 11 months ago.
Category: Legal
Expert:  Richard replied 11 months ago.

Good afternoon. My name is ***** ***** I look forward to helping you.

You are correct to be suspicious of your broker. A contract cannot be unilaterally changed by only one party. Otherwise, you could simply say that you'd decided that you wanted to raise the price and they would have to accept that. If the closing date is wrong, it could be construed as a "mistake" and a court could reform it to Jan. 2016. But, that is by now means certain; it would be up to a court to decide whether this voided the contract. BUT, clearly they can not force you to sign any amendment to the contract and they cannot force you to make any of their suggested changes. Changing the purpose of the $1500 is probably not material to you since the $1500 is fungible and results in the same bot***** *****ne to you. But, I would not allow any contingency for financing. It's true the buyer can get a mortgage to close, but if he can't get a mortgage in time to close timely, the buyer is in default and would forfeit all his earnest money and you could terminate the contract. And, if you let the contractor in, you don't want to just give him a key; you want to make sure he is accompanied by someone you trust.

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