HELP! Any Dopers with Florida Real Estate expereince out there?

In My Humble Opinion
1

Here’s the facts:

  1. I was a real estate agent in PA about 10 years ago.

  2. My mother is looking to sell a property in Fla that she owned with my father until he died in 1999

  3. 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.

  1. 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:

  2. 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.

  3. 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:

  1. They give here an extra week to sign, allowing her to properly review (and have a Florida RE attorney review) the dox.

  2. 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 . .

2

If you sell without an Realtor, you need a lawyer anyway, right? Lawyers give free initial counsultations usually,
so look one up & get your half hour counsultation. Or call a local bar assn & ask them for a lawyer referral,
they usually have somone you pay $25 for & get a half hour of time.

I wouldn’t sell under those conditions, it looks strange because pressure to buy or sell is one of those
things that cause a red flag for me.

3

“You can get any style house you want. You can get wood.
You can get brick. You can get stucco. Boy, can you get
stucco.”

Groucho Marx, on an early Florida land development project, in “Coconuts”

IANA realtor but I have seen many “honest” people doing business with me turn into the spawn of Satan; I say no deal until all terms are verified.