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I just received a land sales contract from a buyer. I've previously discussed with him the significant presence of a watershed and a floodplain within the property's boundaries as well in adjoining properties. Even so, he put in a clause in the contract saying I had no knowledge of the floodplain or any requirements for building permits relating to floodplain. When I brought up this point on the phone, he said he would contractually acknowledge the presence of the floodplain, which doesn't help me at all if he assigns the contract. Any thoughts? It seems to be a void contract from the start but only to the detriment of the seller.
I just received a land sales contract from a buyer. I've previously discussed with him the significant presence of a watershed and a floodplain within the property's boundaries as well in adjoining properties. Even so, he put in a clause in the contract saying I had no knowledge of the floodplain or any requirements for building permits relating to floodplain. When I brought up this point on the phone, he said he would contractually acknowledge the presence of the floodplain, which doesn't help me at all if he assigns the contract. Any thoughts? It seems to be a void contract from the start but only to the detriment of the seller.
Find another buyer, he's gonna make you sign something and then sue you for not disclosing it, or make sure to remove that clause.
He also has an inspection period in the contract as expected. It's very easy to verify the location of the floodplain and stream preservation area using the county's mapping site. He doesn't really need the seller to warranty that the property is free of environmental considerations. He is protected by conducting an inspection.
I wouldn't pursue the contract to the point of reaching an agreement without an attorney. I figured the contract was too shady and shoddy to forward to her attorney. There are other seller warranties contained in the document that I find superfluous. It's vacant land for which I had the house demolished three years ago, yet he describes a house and a two-car garage from which I am supposed to remove possessions and leave intact.
Status:
"I didn't do it, nobody saw me"
(set 5 days ago)
Location: Ocala, FL
6,489 posts, read 10,372,452 times
Reputation: 7945
Quote:
Originally Posted by SouthernBelleInUtah
Sounds like he is trying to pull a scam on his financer.
I agree......
Never agree to such a lie as it could easily bite you later. No realtor, surveyor, appraiser or bank representing the buyer would not check the flood plain to confirm the status of the property. Let that buyer walk as you will save yourself a lot of headaches.
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