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Updated about 6 years ago on . Most recent reply

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Diana Dorantes
  • Rental Property Investor
  • Channahon, IL
103
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My first FSBO, agreement on price, but want to ask for reduced $

Diana Dorantes
  • Rental Property Investor
  • Channahon, IL
Posted

So found a great 3 bed, 3 bath all brick.  Walked the property and later the same day agreed to a price, no contingency.  Here’s the issue.  Had an inspection and found big issues with the support beams in the crawl space.   I want to request about 5,000 reduced price, but not sure because of my agreement to no contingency.  

Can I nagociate after we already signed the contract?  I left a message for my attorney but will probably not get a response till tomorrow afternoon.  Any guidance appreciated.

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Charlie MacPherson
  • China, ME
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Charlie MacPherson
  • China, ME
Replied

@Diana Dorantes It depends on the language in your contract.

If you really signed a contract with no contingencies, then you may have a problem.

There may be a way out, but I don't think it would be straightforward.  It's probably going to revolve around contract law and this particular contract.  

I think you should buy an hour of an attorney's time and get some legal advice - and don't forget to pay attention to the timelines in whatever contract you've signed.

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