I recently represented the buyer in the purchase of a condo. After a lengthy contract negotiation, with both sides in full agreement, the seller added a stipulation to the contract that the sale was contingent on her divorce. The listing agent suggested that this was a minor change to the contract, but I knew immediately that it was a significant problem. After reviewing the issues and legalities with Craig Dearr, an attorney at Dearr Perdigon, I advised my client to abandon this transaction. The seller did not disclose the divorce until the 12th hour, so to speak, and the listing agent, in order to push this deal through, suggested it would only delay the closing by 30 days. Since the divorce had not been filed with the clerk of the court as of this date and the husband was nowhere to be found, and therefore could not be served with divorce papers, it is quite doubtful that this divorce would be finalized in 90 days (yet alone six months).
The bottom line here – it is important as a real estate agent to protect your clients interest, even if it means walking away from a deal. This was a great property at a great price, but would have been a nightmare for the buyer.
If you would like a seller or buyer consultation, it would be my pleasure to meet with you and assist you in any way that I can. Give me a call at (305) 898-1852 or email me at [email protected]