Greer, SC asked in Real Estate Law and Landlord - Tenant for Florida

Q: Would the condo rider overrule the contract? Due to the contract wording "For any reason" am I entitled to the deposit?

I was under contract for the sale of my condo and in the contract that is signed, it states in section 20 under the addendum and additional terms line 5 states that if buyers failed to close for any reason they would forfeit the $30,000. deposit of earnest escrow which was written by their agent. However, their agent has requested we do a full cancelation of funds. The only reason I agreed to rent to them for 3 months was because of this agreement. It was a secured risk if for any reason they didn't close I would have that escrow money to pay the mortgage till we had another buyer. Their realtor knew there was an HOA approval needed, she received the application before they moved in and she relayed to my agent that everything was good on their end before they moved into my condo. It was a surprise when we received the denial letter from the Hoa attorneys for their background check. However, the buyers should have known that he would not pass a background check due to he has 5 felony

1 Lawyer Answer
James Clifton
PREMIUM
Answered

A: Almost every rider to a contract has the following language, "Where this Rider is in conflict

with the terms of the Agreement, the terms contained in this Rider will govern." This means that if the condo rider has a contingency that gives the buyer the option to cancel the contract if they are not approved by the condo association, the buyer can cancel the contract because the terms of the rider apply over any discrepancies in the main contract.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.