Home Buying in Hollywood>Question Details

anamariac07, Home Buyer in Naples, FL

an extension was signed to buy an apartment the date of the extension has passed can i walk out of that contract?

Asked by anamariac07, Naples, FL Tue Apr 9, 2013

i have been threaten that they will keep the escrow,can they do that?the extension passed trying to get an interview from the board of directors of the complex association in an hour that i can get permission from my job please help me
anamaria

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Answers

6
Absolutely contact a Real Estate Attorney. The approval process is most likely a condition of the contract. Your Realtor should be able to recommend someone to you.

Good luck!!
1 vote Thank Flag Link Tue Apr 9, 2013
Anamaria, I'll just add another "see an attorney" to all of the others here. Real estate contracts are extremely complex - especially those with multiple conditions or clauses. There will be many factors to consider, and the answer might not be so cut and dry. As others have said, an expired extension could mean that the contract is void. But real estate agents are not attorneys. SEE AN ATTORNEY.

Also, you should know ahead of time that if there is a dispute between seller and buyer regarding the escrow deposit, the broker escrow agent cannot simply decide who has the right to the money. This issue is very clearly laid out in real estate laws and regulations. There are several different avenues used to determine who keeps it - and one of those is litigation. So... again, consult an attorney to protect yourself and your investment.

Best of luck to you in your situation. This kind of thing is never fun.

Of course, if you would like assistance when you re-start your property search, please give us a call. We'd be happy to help. We live, work and are active real estate investors in Hollywood and the surrounding area.

All the best,
Vivian & Keith Harmeyer
Realtor-Associates
Ace Realty & Investments
SouthFLRealtors@gmail.com
http://www.SouthFLRealEstate.net
954-834-3349 (cell)
954-473-2400 (office)
0 votes Thank Flag Link Tue Apr 9, 2013
In most cases and expired extension would mean that you should be able to be released from the contract, but as previously stated, you should consult an attorney to verify that you will not lose your deposit. Good luck.

Sincerely,
Hermann Wiehls
Realtor Associate
Atlantic & Pacific Real Estate US LLC
Ph: 954-300-2BUY
3002buy@gmail.com
2950 W Cypress Creek Rd. Suite 100
Fort Lauderdale, FL 33309
http://www.southfloridarealestateadvisor.com
0 votes Thank Flag Link Tue Apr 9, 2013
My suggestion would be to contact an attorney, have him interpret the contract for a flat fee. Your agent should be able to recommend someone to you.
0 votes Thank Flag Link Tue Apr 9, 2013
I agree with Marge Bennett the approval process is part of the contract and if you talk to your agent or people involved you can come to an understanding so they can meet with you when it's good for you..
0 votes Thank Flag Link Tue Apr 9, 2013
you may want to talk with an attorney. At first glance, my answer is of course, the contract is expired, but then reading about the interview with the association... it gets sticky. Because your contract most likely says that you will have one.
0 votes Thank Flag Link Tue Apr 9, 2013
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