Seller Demanding Specific Performance
Hi, I was supposed to close on a 20 unit building and 30 min prior to close, during walkthrough, we discovered a foot of sewage in the basement of the property. The sellers claimed it was cleaned up but upon a re-examination we found human waste STILL in the basement, not to mention the guy cleaning it up was just a maintenance man and had not come close to taking appropriate measures to rectify (a shovel and hose doesn't clean up bio waste). We also discovered one tenant's unit was trashed, a **** roach infestation, and greater amounts f damage from tenants to the property.
The property is bank owned. I do hate the idea of re-trading on deal but this is the second sewer back up we have witnessed. I submitted a list along with pictures from our last walkthrough along with professional bids for work to remediate the new damage and discoveries.
Their lawyer is now demanding specific performance. Any suggestions?