Here’s the facts:
I was a real estate agent in PA about 10 years ago.
My mother is looking to sell a property in Fla that she owned with my father until he died in 1999
Recently she made the decision to sell. She was getting ready to list with a RE agent, when her neighbors said they had a buyer. The freinds of the neighbors offered X amount of $ for the house, she said she wanted more, then never heard back from them.
If the neighbiors were to buy, it was understood that it would be a private transaction between seller and buyer, no realtors involved.
Suddenly, this morning (Friday), my mom gets a fax from these people with an agreement of sale for the property for $500 less than she asked, which is ok (the price offered is not the issue). HERE IS THE KICKER:
They said that they MUST have the AOS signed and faxed back to her by 8 am MONDAY MORNING, because, they need to be back in Ohio by 5/15, and they are applying for a PERSONAL loan at a bank and the bank MUST have 3 weeks to approve the loan. They are implying that if my mom does NOT sign the AOS by then, then the deal is off because of this.
I have read the AOS, and it seems to be in order. BUT being unfamiliar with Florida real estate law, I have advised my mother that she should have a licensed Florida RE attorney review the contract before she signs.
She is under a lot of duress because of this. She insists these are nice people, and mean no harm. :rolleyes:
She just wants to sign and get over with.
She however, is under no financial pressure to sell at this time.
I told her I want to see one of the two things happen:
They give here an extra week to sign, allowing her to properly review (and have a Florida RE attorney review) the dox.
OR- we add an addendum that the AOS is subject to attorney review.
I don’t want to kill what I think is a pretty honest deal- at the same time, I dont’ like the idea of someone being pressured to enter into an agreement before they feel comfortable.
Am I on the right track, dopers? Floridians with RE expereince preferred . .