The Motley Fool Discussion Boards

Previous Page

Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/deepa100-quotnope-did-not-do-the-inspection-30623924.aspx

Subject:  Re: Landfill < 1 mile away? Date:  4/5/2013  4:37 PM
Author:  JAFO31 Number:  125060 of 127679

deepa100: "Nope, did not do the inspection. Will not be doing it. Will not sign the closing papers. Common sense dictates that noone can make someone buy goods that he/she does not want."

Real estate contracts are one of the few contracts for which specific performance myay be available.

"Specific performance is an order of a court which requires a party to perform a specific act, usually what is stated in a contract. It is an alternative to awarding damages, and is classed as an equitable remedy commonly used . . . [for] real property. While specific performance can be in the form of any type of forced action, it is usually used to complete a previously established transaction, thus being the most effective remedy in protecting the expectation interest of the innocent party to a contract."

http://en.wikipedia.org/wiki/Specific_performance


"In fact, on much smaller purchases than a house, returns are accepted even after buying."

So what? UCC covers sales of goods, but not the sale of real estate. See my prior comment about specific performance

"So, if they want to go to court- a filthy rich builder vs. a young, innocent looking family from out of town who wanted the best for their kindergartner, whose realtor did not disclose important details. Jury, make up your mind!"

I do not recall any of your earlier posts reciting that your contract was with a builder. And this statement makes me believe that you may be about to jump down the rabbit hole.

Did you engage the broker? IOW, who did the broker represent?

It is not clear to me that the location of the dump is material information about the property you were contracting to purchase.

Even if, arguendo, you have a claim against the broker for failure to disclose, that does not necesarily make it the Seller's problem.

The builders with which I am familiar generally have pretty tight contracts, that are builder/seller friendly and not to be signed lightly without review by your own lawyer.

It is not clear to me that you have followed the suggestions from the board to consult a lawyer, but not doing so is, IMO, pennywise and pound foolish in the context of your dispute.

Without the exact contract terms, I will not even hazard a guess about the outcome, but I will say that I am not nearly as confident as you that the result will be favorable to you.

Regards, JAFO
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us