Updated about 10 years ago on . Most recent reply
Unrealistic contract
So made an offer through agent on this REO that was listed on MLS. Seller's agent came back and verbally agreed to our price but asked for 0 day inspection and closing day a month away (it was a cash offer so offered to close almost next day). Very odd, still, sneaked my inspector he didn't find anything crazy so i decided to move forward and verbally accepted. Now get back our offer back from the agent with few items whited out and changed on my behalf (instead of crossing stuff out and making me initial changes). If not for agent i wouldn't even have noticed. Things were changed were under SPECIAL ASSESSMENTS "...If special assessments may be paid in installments:" he whited out my box that said
"Seller shall pay the assessment(s) in full prior to or at the time of Closing." And checked
"Seller shall pay installments due prior to Closing and Buyer shall pay installments due after Closing."
Then he crossed out the whole section of the boilerplate contract where i agree to hold brokers harmless from errors in public records and other stuff. There was also a 12 page addendum where i promise to indemnify and hold harmless seller and his broker and where i waive my rights to pretty much everything including a trial by jury. On top of that seller wanted 10% EDM wired to them today. My agent bounced it off her broker and she said that it's a boilerplate FL contract and brokerage firm can't agree to all of this additional liability. Anyone had anything like that happen?