Legal questions should be answered by lawyers.
Always go to the correct source to protect yourself and your interests. Conversations regarding a lien or lawsuit should be managed by a legal representative. Real estate agents do not practice law.
Ana Barlow, Coldwell Banker Preferred, Philadelphia
The way I read your question, you have offers, not a contract. Hopefully, you don't have a contract with two buyers!
The terms of your contract will determine what rights the buyers have, but my guess is that they have a financing contingency, and their lender is requiring work orders to be completed in order for them to get the loan. In that case, you can likely tell them to get lost and take their earnest money check with them, and find a buyer who can do a rehab loan or figure out another way to buy it.
However. Do not read these answers and go back to your buyer as if you have the answer. The terms of the contract will dictate what your obligations and rights are.
All the best,
My question is, if this is an estate where are the legal representatives of the estate? Why ask a real estate agent when it seems there already should be an attorney involved. If there are two offers, then there is no mutual acceptance on one. And I don't even understand how anyone can threaten to file a lien against a property they're only offering on. The question and entire situation doesn't even make any sense to me.
Carla Muss-Jacobs, Principal Broker/Owner
EBA Portland, LLC
Exclusive Buyer Agency since 1999
What does the contract for sale say?
Was there a clause that required the Seller to address the Lender's Concerns?
Beyond all that, is this a good Buyer?
Do you want to loose them and have the property out there on the market for a few more months?
What about splitting the differance?
If a contractor is injured on the property, who is responsible??
A buyer cannot force a seller to make repairs unless the seller agreed, just that simple.
In a general comment, if work is required prior to close of escrow there are ways to handle that and it is in the language of the contract. You will want to make sure that you are protected for errors or liens. Insurance & contractor license by the contractors, hold harmless agreements, and who pays for the repairs if the buyer fails to close, are some of the red flags.
Go back to your agent and seek the legal advice should the situation warrant.
All the best to you.
Tom Inglesby, Broker
In my opinion and not legal advise----The buyers could come after you for refusing to work in good faith and tie up the property until a court case is settled. What would happen if you did the repairs and the buyer paid for them?
I have been in similar circumstances with clients before and we had a work party where both sides and their RealtorsÂ® showed up at the home to work on lender preclosing conditions just to get the sale done.