We recently represented a first time buyer in the purchase of their home. We competed with 5 other offers and were able to negotiate terms that allowed our buyer client to win the bidding war. Everything went smoothly until walk through came around the evening before closing.
The day before closing we went to the walk through to confirm that the repairs negotiated as a result of the home inspection were completed in a workmanship like manner and that the home was in substantially the same condition as it was at time of contract. Apparently this listing agent and seller didn’t think they had to do the work which was agreed to as a result of the home inspection.
The listing agent even had the gall to send a text, yes she put it in writing “I’ve spoken with my seller, and she is absolutely not willing to do anything else. If your buyer is unhappy with the repairs that are done and unwilling to close tomorrow, the seller would like a release and take one of our higher back up offers.”
When trying to reason with this ill informed listing agent about the contractual obligations of the seller, she just didn’t get it. Please be aware of who you hire to represent you in the sale and purchase of a home. This agent opened her seller client up to a suit for breach of contract. We realized we were getting nowhere fast, so we reached out to her broker and asked for their assistance in educating their agent and their seller client.
We were relieved that the broker advised both the agent and the seller of their obligations under the contract and the broker told the agent to stay at the property all day if need be to ensure the work per the PICRA (Property Inspection Contingency Removal Addendum) was completed.
Don’t risk thousands of dollars by hiring an inexperienced agent who could put you at risk. We have 26+ years of real estate experience and can help you navigate the ins and outs of the Hampton Roads Real Estate Market.
Give us a call at 757-288-0983