[ShaSha]

Get your $ back now!
Don’t sign anything. Don’t extend the inspection. Don’t fall for the sellers lowering the price!
There are many houses for sale. You will find one sooner than you think…

[Heartnsoul]

Woman passed away at 97 so I doubt she ever knew about it. Inspector discovered in corner of bedroom closet

[Heartnsoul]

Originally Posted by ShaSha

Get your $ back now!
Don’t sign anything. Don’t extend the inspection. Don’t fall for the sellers lowering the price!
There are many houses for sale. You will find one sooner than you think…

REAL ESTATE AGENT TELLS ME I Will LOSE MY MONEY. I BELIEVE THEY HAVE TILL FRIDAY TO FIX, REPAIR BUT HOW DO I REALLY KNOW THAT WILL BE DONE??

[lmack]

Originally Posted by Villager-2024

Depends on the wording of your contract - read it, know what it says and notify the agent. I would sign nothing extending the inspection period (what's the purpose of this since you have already had the inspection and notified the agent you want out?). The agent is trying to hold the deal together - which is their job. Are you working with a Realtor or a Villages sales person (there is a difference).
Unless you have hired a "buyer's agent" the agent's job is to sell the house, they are paid by the seller. Make sure you understand the fiduciary responsibility of the agent.
Most likely it is as simple of notifying the agent you want out, signing the proper release and waiting for the escrow return, read your contract and see if this is true. Many contracts have a specified dollar amount for repairs, does yours? Or does it specifically say void for certain types of issues? Your contract will govern the process.
DO NOT SIGN AN EXTENSSION if you want out.

In addition to repair stipulations as a result of inspection…. There may also be a time requirement to cancel as a result of inspection.
As others have said, read the inspection clause.

[Heartnsoul]

I've read it to best of my ability. They have 10 days AFTER inspection to have fixed etc which is Friday. They still say no money is refundable?? Re agent thinks it's neighbors sprinkler system hitting our stucco wall or going under ground?? But how do I know? How will we even know if REALLY REPAIRED??

[retiredguy123]

Originally Posted by Heartnsoul

Woman passed away at 97 so I doubt she ever knew about it. Inspector discovered in corner of bedroom closet

It doesn't matter if she actually knew about it. The standard is "should a reasonable owner have known about it?" If so, then it had to be disclosed. I hope you have photos.

[GWilliams]

Originally Posted by Heartnsoul

My husband and I put $10,000 down on a villa. The inspector found water damage which we want no part of. The RE agent tells us not to worry. We are. He sent me a addendum to contract to sign to add an additional 10 days to extend
The inspection period. If we don't sign, can we get our $10,000 back to move on and purchase another villa?

Deposit or down payment? Deposit you get back as contingent to inspection.

[retiredguy123]

Originally Posted by Heartnsoul

REAL ESTATE AGENT TELLS ME I Will LOSE MY MONEY. I BELIEVE THEY HAVE TILL FRIDAY TO FIX, REPAIR BUT HOW DO I REALLY KNOW THAT WILL BE DONE??

Your sales contract is with the broker, not the agent. The agent shouldn't be telling you that you will lose your money. That is not his decision to make. The decision is for the escrow company to make in consultation with you and the broker. In order for the escrow company to release the money to the broker, they need to determine that you have breached the sales contract and the broker is entitled to the money. Note that many listing contracts state that forfeited earnest money is divided equally between the broker and the seller. I doubt that a broker wants to tarnish his reputation for $5,000. Many large brokers almost never keep earnest money regardless of what happens.

[jcoop]

Originally Posted by Heartnsoul

My husband and I put $10,000 down on a villa. The inspector found water damage which we want no part of. The RE agent tells us not to worry. We are. He sent me a addendum to contract to sign to add an additional 10 days to extend
The inspection period. If we don't sign, can we get our $10,000 back to move on and purchase another villa?

I am surprised no-one has mentioned it, but water leaks may include or lead to Black Mold if not resolved properly. Beware.

[retiredguy123]

This thread is very disturbing to me. It sounds like the OP is being pressured to complete a sale that they don't want by an overly aggressive real estate agent. The agent has no right to tell the OP that they will lose their deposit money. It is not the agent's decision to make or his money. My advice to the OP is to demand to talk directly with the broker. If I were the seller, I would refuse to complete the sale because I wouldn't want to sell my house to someone who doesn't want it. There are other people who will buy the house after the damage is repaired.

[scubawva]

Originally Posted by Heartnsoul

My husband and I put $10,000 down on a villa. The inspector found water damage which we want no part of. The RE agent tells us not to worry. We are. He sent me a addendum to contract to sign to add an additional 10 days to extend
The inspection period. If we don't sign, can we get our $10,000 back to move on and purchase another villa?

You haven’t answered if you’re working a buyers agent. You haven’t answered if with a Realtor or Villages sales person.

You don’t understand the contract you’ve signed, which is for multiple hundreds of thousands of dollars.

Call a RE attorney immediately & do not sign anything else.

[frayedends]

I agree with the above post. We ask for details but don’t get them. I will say that this is the reason people should have a buyer’s agent. The reasons a deposit might be lost would be explained while writing an offer.

[retiredguy123]

Originally Posted by StevenVenaRealtor

As a buyer you should be in contact with your agent. If you do not have representation, keep in mind the listing agent is now working as a transaction broker only and can only facilitate the transaction — they are under no obligation to provide guidance for your exclusive benefit. If you do not have your own agent, my recommendation is to contact a real estate attorney to be sure your are compliant and your rights under the contract are protected — timing matters!

Not exactly. The listing agent is not working as a transaction broker unless they have the written consent of the seller. As a seller, I would never allow the listing agent to act as a transaction broker until all contingencies in the sales contract were satisfied.

CONSENT TO TRANSITION TO
TRANSACTION BROKER

FLORIDA LAW ALLOWS REAL ESTATE LICENSEES WHO REPRESENT A BUYER OR SELLER AS A SINGLE AGENT TO CHANGE FROM A SINGLE AGENT RELATIONSHIP TO A TRANSACTION BROKERAGE RELATIONSHIP IN ORDER FOR THE LICENSEE TO ASSIST BOTH PARTIES IN A REAL ESTATE TRANSACTION BY PROVIDING A LIMITED FORM OF REPRESENTATION TO BOTH THE BUYER AND THE SELLER. THIS CHANGE IN RELATIONSHIP CANNOT OCCUR WITHOUT YOUR PRIOR WRITTEN CONSENT.

[Heartnsoul]

10,000 went into escrow

[MsPCGenius]

Contact Seniors vs Crime for guidance....
352 755 3186

They also have an office presence in Brownwood Paddock Square, if you want to stop by and talk face-to-face with a volunteer.