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I sold my house in Florida and was scheduled to close on 8/8. My realtor told me that I could not wait until the funds were mine to move out, that the keys were expected on the closing date so I moved out. The buyers also thought we were closing on the 8th and moved out of where they were living. On the 8th we were told we would close 2 days later and that 2 days became 30 days later. Realtors had a new excuse why everyday, but mostly blamed the lender and FHA for the hold up.
I wound up having to make my mortgage payment and rent payment, something I don't have the funds to do. I charged my apartment payment. The buyers had to put all their things in storage and move in with family. The buyers realtor harrassed me every weekend about letting them move in and rent from me, but I was not secure with that idea and did not allow them to move.
I lost $1000 of my profit due to the double payment situation, what recourse, if any, do I have in the state of Florida?
Your only potential recourse would be against the buyer, because they were required to be able to close on 8/8 per the purchase agreement (I assume, from the little detail you gave us). If they were not ready to close on the 8th, they were in default, even if the root cause was their lender's delay. But whether or not you have any recourse at this point depends on the remedies that were included in your purchase agreement. It is very possible that your contract says that your only recourse is to either terminate the contract and keep the earnest money, enforce specific performance (i.e. sue and force them to close), or delay closing, in which case you apparently chose the latter. I am only speculating that those were the remedies included in your contract; you may have the right to sue them for the damages you incurred resulting from their delay. Obviously an attorney licensed in FL is recommended.
Fasinating how you and the buyer are clueless and blaming the realotrs.
This is the buyer's problem. They failed to obtain financing by the required date. They or their attorney should have asked you to approve a new close date and if they had, chances are you might not have moved out, when you did.
I agree with AW. I have to say, that I've never seen a deal where people both signed and then it failed to fund, but I know that it has occured on occasion. So you both signed your docs for closing and it just failed to fund for 30 days??
I sold my house in Florida and was scheduled to close on 8/8. My realtor told me that I could not wait until the funds were mine to move out, that the keys were expected on the closing date so I moved out. The buyers also thought we were closing on the 8th and moved out of where they were living. On the 8th we were told we would close 2 days later and that 2 days became 30 days later. Realtors had a new excuse why everyday, but mostly blamed the lender and FHA for the hold up.
I wound up having to make my mortgage payment and rent payment, something I don't have the funds to do. I charged my apartment payment. The buyers had to put all their things in storage and move in with family. The buyers realtor harrassed me every weekend about letting them move in and rent from me, but I was not secure with that idea and did not allow them to move.
I lost $1000 of my profit due to the double payment situation, what recourse, if any, do I have in the state of Florida?
Your contract should answer the question for you.
Not seeing it raises a host of questions.
Does it mention that the closing date is fixed, or the consequences of a delay?
Does it mention that you have to agree to any delay?
If the contract is not clear to you, you should consult with someone knowledgeable about Florida real estate contracts and law regarding your contract language and the provisions of the contract.
It can vary greatly by state and the contract used.
I.e., in North Carolina a closing can be delayed 10 days without penalty, and up to thirty days with minor penalty to the delaying party, per the standard Realtor Offer to Purchase and Contract.
But, that is North Carolina, and you need specific input as to the provisions of your contract and/or Florida law.
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