My daughter put a contract on a gut rehab in Lincoln Square with the stipulation of an inspection. Some major
concerns were found and she was advised not to purchase the condo. She sent the builder the list of concerns that needed to be addressed before she would buy it. A date was set for their response. The builder came back with his own list and none of the major concerns were addressed. Through her lawyer she told the builder she was backing out of the contract. The builder will not release her. She received word today that if she walked away he would sue her for the cost of the condo. She is pregnant, stressed and now must back out of another contract she initiated because she thought the first condo contract was nulled. No calls will be return to her lawyer and she does not know what to do. Help!
Yes, builders desperate for buyers, beware.
It should be clear in the contract. Your lawyer should know how to deal with it. And if not, I would change lawyer.. We have been in a lawsuit agianst a developer for a different reason for 9 years. We finally changed lawyer realizing how bad the one we had was. One important thing, contact a litigation lawyer, NOT a closing lawyer for a second opinion. Good luck! Agnes
I just went though the same thing. The contract says the sale is contingent on the inspector and we found major defects. My attorney sent a letter. Contracts in Chicago are all pretty similar...the suburbs are a little different, but if you find things in the inspection you can easily back out and get your earnest money back.
Yikes! Was this a single family/2-3 flat rehab or a building renovation? I am thinking of buying in Lincoln Square and would like to avoid this building/developer! Please email me at anne7579@yahoo.com if you prefer not to post here. Thanks!
Virginia,
Without seeming to be brief, have your daughters Attorney deal with this matter immediately and advise her of her options. Without knowing all the details you may receive some well intended advice through Trulia that may not be helpful or could create more problems if relied upon.
Good luck, Ken.
Your attorney is the only one who can help you. You have to read the contract. Was your daughter represented by a realtor? If so, our contracts ALWAYS include a home inspection clause where you can get out of the contract. Or did you buy directly from the builder? If so, builders use their own contract and sometimes they are so one-sided, the buyers don't have any legal recourse. Hopefully you have a strong attorney who will help you out of the situation.
Didn’t find what you were looking for? Ask a question!
More Q&A about Home Buying in Lincoln Square
View all »
Ask a question
|
|
|
|
|||||||||||
|
|
|
|
|
|
Fair Housing and Equal Opportunity