I am selling my childcare center. It is fully operational. I have the agreement of sale, the inspection was completed. The appraisal
is being processed. The buyer wants me to give her all of the contents as well as the remaining children. She does not want to buy the business. The inspection report was brutal. However, A credit of $10,000 was deducted from sale price. My realtor told me that I did not have to complete all of the repairs that was listed because of the credit given. Should I have a real-estate attorney at closing? If so, how much should I have to pay to for him/her?
JA: Because real estate
law varies from place to place, can you tell me what state this is in? I'm not sure of the exact price, but there's only a $5 deposit. The rest of the price information will be on the page I send you to.
Customer: The sale is in the state of Pennsylvania.
JA: Has any paperwork been filed?
Customer: I am not sure of what you mean. We completed a agreement of sale. She has sent in a mortgage
commitment letter from her bank. I am assuming the realtor is handing what ever else is necessary.
JA: Anything else you want the lawyer to know before I connect you?
Customer: My realtor seems to feel that I do not have to comply with the repairs. I just want to know how responsible am I going to be since we only gave a $10,000 credit.