Ponchatoula, LA · Member since 2013 · 14 posts · 0 votes
my buddy signed a contract today to sell his home. He lives out if state and idk why but he didn't read the contract and my washer and dryer are included in it. If I had a little rinky dink unit it wouldn't matter but I have a brand new front load washer and dryer. He doesn't want to buy them from me for $2500 so is there anything he can do to get out if the contract?
Move your washer and dryer and let him deal with the situation. If the buyer negotiated the deal and your friend didn't read the contract, then that's a lesson that he should learn. Next time he'll be super careful.
With that said, is it still in the inspection period? He can let them inspect and if they ask for something (buyers always do), he can refuse. They can then buy 'as is' or walk away. But it's sort of not fair to the buyer to have them spend money on inspection etc , when he knows that he wants out.
Is there an agent involved? He might be liable for commission, if he backs out of the deal - depending on how the agent feels
I'm not a real estate agent or attorney, but I would think that an addendum would be acceptable (well, legal), especially if it's not actually his. When we bought our house, the seller just asked if they could get some things they forgot to mention in the contract. Obviously not binding, but it worked. I'll be interested to see what info comes out of the replies here. Sorry I couldn't help more myself, but good luck!
The contract was just signed this morning. Being that he lives out of town and I've been taking care of the place his agent as been in contact with me. As soon and she told me they signed and the refrigerator and washer dryer were to stay. I told her that the washer dryer was not his to give. So no money has been spent on inspections or anything. I don't know why the buyers are being so stubborn. I would hate for it to cost him money but who doesn't read a contract??
It seems straightforward to me: Your friend agreed to sell something that doesn't belong to him. He needs to apologize to the buyer and ask them if they still want to proceed without those. He can't sell your stuff. That would be stealing.
He tried that and they won't accept that for some reason. I'm about to have a neighbor that is an attorney and he just did our closing and he said the same thing. That he could face theft charges if he were to sell my things. He desperately wants to sell his house because he already moved too. And in louisiana I believe anything over $500 is a felony and this is a $2500 set so that could be an issue. I wouldn't file charges on my friend but I already removed the washer and dryer and they aren't getting it.
He has no legal way out, unless the buyers back out for some reason. He will have negotiate a resolution. It also depends on the language in the contract regarding the seller failing to perform, and what the remedies to the buyer for that are. There could be language in the contract regarding when EM is to be given, and if buyers fail to do that in time, he could have cause to cancel the contract, maybe. Best to try and reason with the buyers and buyer agent.
Hi Isaac, I think I meant amendment, not addendum. Quick, someone who knows what they're talking about, correct me! :-P Seriously though, just a modification to the contract, basically. Since he already signed the contract, that may not work anyway, as I believe it would have to be mutually accepted. Sorry, I'm pretty new to this. That said, he's going to be on the hook to either you for selling your stuff, or to the buyer for failure to perform. Let us know how it works out, and good luck.
Joe thanks for your pointless response(sarcasm). Thanks everybody for actual input. Both sides have been told that the washer and dryer don't go. I removed them last night. If they decide to move forward with the process then they will realize that when they do the inspection the washer and dryer will not be there. I guess we will see what happens. Once a resolution comes about I will try and remember to post it. Thanks again
One clear lesson from this situation is "Be very clear about what items are RESERVED (not sold with the property) when listing a property for sale."
An addendum is a document used to make a change to the terms of the purchase sale agreement. It's signed by both parties and prevents the need to rewrite the whole contract for this type of change in terms.
Your seller friend has to explain the oversight of this item that is very significant to the buyer. Then offer an allowance of maybe $1800 for the purchase of another washer/dryer?
Look for a way to make the deal work, not a way out of the contract. Even if he has to pay up $2500 dollars, how much will it cost him to hold the property another 2-3 months?
I agree. If he made 2 more payments then he would be at $2200 so it would be worth it for him to buy his way out. He mentioned $1500 when I talked to him so maybe he read enough to see that if he didn't leave it them he would give them a $1500 allowance. Thanks for help
I didn't imply that your post was sarcasm. I was pointing out that me thanking you was. The samsung set that I purchased is listed for $2300 on lowes site all day. $1100 for one and $1200 for the other. Not including taxes or vents or hoses. I am a shopper and I picked them up for $1700 on a Memorial Day sale. So you can keep your comments to yourself. Thank you
Thanks everybody. Back to the topic. Coercion is trying to force somebody into criminal action. Does anybody believe that the buyers fall into that category?
Thanks everybody. Back to the topic. Coercion is trying to force somebody into criminal action. Does anybody believe that the buyers fall into that category?
No, they just want the appliances that the seller agreed to convey. Ball's in the seller's court. He may simply need to replace the appliances.
The buyers are not trying to force anyone into criminal action. The buyers looked at the house. They saw the washer and dryer and included them in the contract. Your "friend", and I use that term loosely, agreed to sell them to them. In writing. Now he's refusing to buy them from you which means he can't honor his contract with the buyers. You buddy is the one screwing up here, not the buyers. You seem to want to blame the buyers:
The buyers are doing absolutely nothing wrong. They wrote an offer that included the washer and dryer. You buddy agree to include them. He's the one trying to weasel out of the contract. He screwed up and now he's going to have to pay for that mistake. That's life.
I'll add "why are buyer's like this"? To get wrapped around the axel over a washer and dryer? Simple. Because buyers are often cash poor after they purchase a house. A $2500 set (I just had to replace my drowned units, so I know that's not an unreasonable price, I'm stunned at how expensive new applicances have become) could well be something they can't easily afford after they close on the house.
The buyers could sue the seller for breach of contract. My advice is for the seller to give the buyer the items included in the contract and closed the deal.
By all means I agree it is my friends fault. Who the hell doesn't read a contract on a $150,000 purchase??? I'm just trying to find a loophole to get him out if this mess. I def understand being broke after buying a house. Happened in my first one but I have since changed my money management thanks to Mr. Ramsey. I believe they sent him a amended contract without the washer dryer but with a $1500 allowance. He's trying to get it down to $1,000 because that's all the equity he has left once the realtors take their cut. I just can't fathom that somebody would sign a contract on a home and not read it?? Lol
Look back at the first response to your first post. The inspection might offer an out if the seller refuses to fix anything that the buyers might ask for.