Real Estate Law
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Hi Matt: We cannot give legal opinions from this website. As you know, there is no attorney client relationship nor attorney client privilege. In any event, there is overlapping law: contract law and tort law. In other words, when signing a contract, one must abide by it. That is contract law. Falsely reporting to HUD would fall under tort law (if a civil claim) and possibly criminal law (if the alleged fraud rises to that level.) You relate that the buyer and the title company state that the HUD statement is completed correctly. You appear to disagree. Therefore, taking the chance to close when you believe that the HUD statement is not filed correctly and it is partly your responsibility to correct it, then attempting to get out of the addendum, is something that appears to be a risky position for you to take. Separately, you lead yourself open to a claim against yourself for allegedly inducing the buyer to sign a sales contract by promising in the addendum to pay for repairs at a later date; and then using the HUD statement, which you are partly responsible to file correctly, as a pretext to breaching the contract (this would be the argument made against your actions). Speak with your attorney to make sure you know what you can and cannot do and the risks involved with each position you take. I hope this helps you understand the issue better. Best regards, Damien
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