Q: can sellers of home sign deal for land with D.O.T after accepted offer?
We were aware of the road expansion. Nothing was stated in the condition report. Prior to accepting the counter offer, we were aware no checks have been issued. We were the primary offer for the home and the 1 acre property. 4/22 we went into contract. 5/8 the signed with the Department of Transportation. 5/12 the received payment for $20K. Nothing was ever mentioned they were taking the money that is supposed to be compensation for the land and landscaping costs caused by the road expansion in our accepted offer, purchaseagreement or seller condition report.
A:
If a Seller has a primary accepted Offer then, generally, they cannot accept another Primary Offer. Generally they could accept a Secondary Offer that is "secondary" to the accepted Primary Offer. There are provisions within the standard offer to purchase forms for Wisconsin that allow the parties to designate the Offer as a "Secondary Offer."
Note: if the Primary Offer has a "Bump Clause" (usually because the Offer is contingent on the Closing of Buyer's Property) then the Seller may trigger the bump per the terms of that clause.
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A:
The issue appears not that they accepted an offer, but did in fact complete a sale of a portion of the property upon which you have a binding offer. Based on their receipt of compensation, it appears they have already transferred a portion of the property to the state. The Real Estate Condition Report requires disclosure of proposed public projects affecting the property under line C.25.
Given the nondisclosures in the Real Estate Condition Report and sale of a portion of the property, you may have rights to termination of the Offer or to seek other remedies. The rights to these remedies may be be time limited. As a result, you should seek review by a real estate attorney promptly to assess your legal rights and advise as to a course of action.
Brian R. Zimmerman
Hurtado Zimmerman SC
bzimmerman@hzattys.com
1011 N. Mayfair Road | Suite 204
Wauwatosa, WI 53226
P: 414-727-6250
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