Short Sale: Evict seller?

[QuestN4u]

What is the name of your state (only U.S. law)? Florida

We are trying to purchase a short sale property in FL.

We have four obstacles that we are currently facing. Any feedback would be gratefully appreciated.

1.

The seller requested a second deposit of about 5% of the sale price. We agreed to this. The deposit is to be held in escrow by the realtor. Then the seller requested that he remain in the property for about 10 days after closing! This is unacceptable for at least two reasons:

A. We do not know this man.
B. He claims to be very ill.

We worry that if he remained on the property after closing than it would take years to evict him. We certainly do not want police intervention.

What can we specify in our addendum to safeguard our investment and ensure that this man turns over the keys and removes himself and his belongings from the home at the time of closing?

2.

The seller's realtor seems a little shady and curt. She refuses to sign the following:

"Realtors must disclose in writing ALL defects patent and latent of which agents know as to the property PRIOR to inspection period, IF ANY."

We would just like to ensure that the realtor is not hiding anything from us. Should we insist on this or do we just accept the reality that any defects would be detected by inspectors and that the realtor is not culpable in the event that defects are discovered?

3.

We included the following:

A.

SELLER WILL PROVIDE SIMULTANEOUS LENDER'S TITLE INSURANCE WITH ENDORSEMENTS. BUYER WILL PAY FOR ENDORSEMENTS AND SIMULTANEOUS FEE NOT TO EXCEED $100. SETTLEMENT FEES TO SETTLEMENT AGENT SHALL BE SPLIT BY PARTIES.

B.
HUD Settlement and Statement:

I. SELLER PAYS FOR COST OF TITLE INSURANCE PREMIUM, COMMITMENT, AND POLICY AFTER CLOSING AND ANY TITLE WORK AFTER CLOSING.

II. AS THE SELLER COVERS SIMULTANEOUS MORTGAGE POLICY, AND A FREE AND CLEAR TITLE,THE BUYERS WILL PAY FEE OF $100 TO $150 AND LENDER ENDORSEMENT AND STATUTORY FEES.

III.
AS THE SELLER COVERS SIMULTANEOUS MORTGAGE POLICY, AND A FREE AND CLEAR TITLE,THE BUYERS WILL PAY FEE OF NO MORE THAN $150 for simultaneous LENDER's mortgage policy plus the cost of any required endorsements.


Is it customary in II to request that the seller covers a simultaneous mortgage policy? Is it customary to request that the buyers pay a fee of no more than $150 for the simultaneous lender's mortgage policy plus the cost of any required endorsements? We were told that there is a lot of price gouging in this arena.

4.

In the event that we must withdraw our offer since it is dragging on, the seller does not seem anxious to vacate and sell the property, and we cannot agree on any addenda, how can we politely request an immediate refund of our initial deposit in our final addendum if it is rejected?

Thank you in advance for your time and attention!

 

[justalayman]

so, you really don't want this house because due to all of your demands, you aren't going to get them to sell to you.

First, to the Realtor signing some statement:

"Realtors must disclose in writing ALL defects patent and latent of which agents know as to the property PRIOR to inspection period, IF ANY."

the Realtor has laws to comply with already that deal with this. Then, since they have not lived in the home, they are not going to have any first hand information concerning the home and that is what a disclosure deals with.

Then, it is simply not a Realtors duty to engage themselves into a contract as a principal. They are only an agent and will not consider being engaged as a principal.

So, if your deal depends on this, you might as well give it up now.

Then, to the seller wanting to stay after closing. In my area of the country, believe it or not, 30 days post closing possession it typical. Not just seen but typical. That does not mean you should do it though. If you are not comfortable with the request, then refuse it. If the contract depends on the allowance, you won't be buying the house.

SELLER WILL PROVIDE SIMULTANEOUS LENDER'S TITLE INSURANCE WITH ENDORSEMENTS. BUYER WILL PAY FOR ENDORSEMENTS AND SIMULTANEOUS FEE NOT TO EXCEED $100. SETTLEMENT FEES TO SETTLEMENT AGENT SHALL BE SPLIT BY PARTIES.

Really? The seller is already walking away with nothing and you want him to kick in money to make the sale. Good luck and if the sale depends on this, I suspect you will not be buying the house.

I gave up after that but if I was the seller, I would tell you to take a hike. You are expecting him to pay for things when he is getting nothing out of the sale. Not a typical agreement a seller will accept.

In the event that we must withdraw our offer since it is dragging on, the seller does not seem anxious to vacate and sell the property, and we cannot agree on any addenda, how can we politely request an immediate refund of our initial deposit in our final addendum if it is rejected?

Polite?

anyway: until a contract is signed, the seller has no claim to the earnest money so, if you revoke your offer (and you better do it in writing), along with that your agent needs to request the earnest money be refunded immediately.