Rusty A. Payton, Broker/Attorney
1225 W Morse
Chicago, Illinois 60626
First of all, I want to thank everyone for giving me such great answers. To update you since my last post, I have spoken with my attorney, and he also agreed there is no liability on my part. He is speaking with their attorney and they are going back and forth. He did mention that he could not say for sure if the attorney would file a lawsuit...anyone could file a lawuit, but they would not win. The original contract is not in full force anymore since the appraisal changed it. Plus, I never gave her earnest money because we were waiting on the appraisal first. Additionally, when she omited the fence, REGARDLESS if she came down that much, it is still a changed contract and needs to be signed by both seller and buyer in order for it to be effective.
I will keep you all posted - please keep posting as you see fit.
I'm in Colorado, so things are very different here. You better get legal advice.
Of course, every real estate professional here handles these documents on a daily basis. Some of use have actually read every word contained in the contracts. It not that we don't know, it is that our license does not permit us to say.
YOUR real estate professional ALSO handles these contracts on a routine basis. Le Ann and everyone else has provided 'spot-on' commentary that should give you confidence.
HOWEVER, none of us know what you signed. Consult with your agent. If necessary, your agent may need to chat with his/her brokers attorney.
When negotiations are reopened, things can go in either direction. Negotiations, that is one of the elements most of use look forward to in the buying and selling of real estate.
Best of Success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
State law differs as to what advice and counsel can be given by real estate brokers to members of the public. this is clearly over any line I know of.
Anyone can sue, winning is another matter.