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I recently signed a purchase agreement on a foreclosure.

Customer Question
Hi! I recently signed...

Hi! I recently signed a purchase agreement on a foreclosure. Initially PA terms which were agreed upon by both parties were that seller (REO-Fannie Mae) were to pay all previous/pending property taxes and assessments but in light of what the title company found which was an old assessment in 2010 still show balance that they are not willing to pay. Apparently my realtor did not catch the fine print in the addendum portion that says they won’t pay for old assessments. I’m confused now and I’ve read that addendum fine print over a hundred times but I still don’t understand it

Lawyer's Assistant: Since laws vary from place to place, what state is this in? And has any paperwork been filed?

What should I do or I guess what are my options at this point since PA has been signed by both parties?

Lawyer's Assistant: Has any paperwork been filed?

Which paperwork?

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I believe that’s all

Submitted: 6 months ago.Category: Real Estate Law
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Answered in 18 minutes by:
1/4/2018
Real Estate Lawyer: Bill Attorney, Lawyer replied 6 months ago
Bill Attorney
Category: Real Estate Law
Satisfied Customers: 2,613
Experience: Attorney
Verified

Dear Customer ,

Thank You for posting your real property law question today. I'm attorney Bill assisting you.

A real property purchase agreement contract is in mist circumstances full enforceable against both parties that freely negotiated the agreement.

In your case there has been a falling out over a an old 2010 assessment; the property agreement/ addendum seems to cater for this eventuality and is generally enforceable as both you and the seller were able to inspect all elements of the contract.

If the wording is ambiguous as you indicate then the clause may be unenforceable against you and the balance may be payable by the seller/ drafter of the contract.

Another option you could seek is rescission of contract for mutual mistake; this is a contract remedy available allowing both parties to exit all obligations for a mutually presumed mistake that was an error.

Thirdly, you could seek to sue your realtor for providing negligent advice to you and leaving you liable now for an extra cost; presuming you were entitled to rely on his/her professional advice.

You may need to negotiate with the seller to determine your best way forward unless you are looking at option 1 above, enforcing the contract against the seller and requesting they pay the charge.

We are here to help, so please follow up with me as required.

In return remember to rate positively today.

You do this by rating 5*****, 4**** or better.

I'm an independent legal expert and rely on your positive feedback to get s credit for my time today.

SO I hope you rate FIVE STARS today before your exit.

Thank You

attorney Bill

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Customer reply replied 6 months ago
This is addendum fine print I didn’t understand.
Real Estate Lawyer: Bill Attorney, Lawyer replied 6 months ago

As the review is an additional service, I will make an offer to review this portion of your contract.

Please accept my offer to allow the review.

Thanks

Attorney Bill

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Real Estate Lawyer: Bill Attorney, Lawyer replied 6 months ago

There was a payment failure for your request.

Customer services can help fix on issues that are arising in this regard:

http://ww2.justanswer.com/help

Best

Attorney Bill

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