Q: Are cash real estate contracts void if not completed by date agreed to originally?
We four sisters were left our mothers home13 years ago in Florida. I paid bills on it for 8 years and refused to continue because one sister would not agree to sell. The house will go to auction for taxes unless sold . We have a buyer for cash and we’re supposed to close in April. All sisters finally signed the the sales agreement that was only 3 pages and as is. The buyer has been waiting to close but with the COVID issue, the sister living in it cannot leave due to her health issues.She is unable to drive and on a walker. I was supposed to bring her to Illinois to live here, but cannot chance going into Florida due to my cancer treatments. The buyer insists the contract is still intact and we are obligated to sell to him. He originally told me he would add an addendum to the agreement but we never received it. There is also a disagreement between him and one other sister , so she does not want to sell to him. She has another buyer that would work with the sister that is in the house.
A: This is not a question that can be answered in an online forum. You need a real estate attorney to review the agreement. If you have breached the agreement the buyer may have recourse against you. Buying and selling real estate without an attorney may save money now, but will cost quite a bit later when there are problems. You will need to consult with a Florida real estate attorney.
A: Contracts are agreements between parties. They can be modified. Technically if both sides are willing to perform the contract and able it is still a go. If not the contract should be formally terminated to prevent further liability to either party. An attorney should be consulted whichever way you want to go.
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