Sarasota Real Estate News

Dear Mr. Seller:

I brought you saavy cash Buyers for your home and prepared a contract with standard Florida contract addendums to protect these Buyers by giving them time to get an appraisal  and researching flood insurance.  You struck through these two addendum forms in your counteroffer, but the Buyers went along with that.   You asked both the Listing Agent and Selling Agent (me) to reduce our commissions by 1%, and both realtors agreed to credit you approximately $10,000 each at closing.  

The bank's "Proof of Funds" for this cash transaction was not worded to your liking, so in good faith, Buyers offered to put up a 50% deposit, ten times higher than the 5% recommended.
 
Your listing stated that your home was fully furnished but you wanted to keep the master bedroom set, living room, family room, and guest room furniture.  The very kind Buyers went along with this, too, because they loved the home and wanted to work with you.

However....within days of coming under contract...

I learned that you had dropped your termite protection four months ago, and the baiting stations were removed.  

Your Listing Agent said that all three air conditioners had been recently replaced; however, only one was.

The final straw!  The Buyers' inspector found several leaks in the roof and several windows were rotting out--plus other problems that were not disclosed in your Sellers Disclosure.  The Disclosure form you filled out and signed in December 2014 failed to identify the flood zone that the property is in, the roof leaks, and the damaged windows.  Failing to tell the truth in the Sellers Disclosure was the final straw for these Buyers.     

Buyers terminated the contract yesterday because they felt that you have not dealt with them in good faith.  

You purchased the home several years ago while the market was "hot," hoping for a high price on your luxury home, hundreds of thousands in excess of the local comps.  The property has been on the market almost 1,000 days.   

Better luck with your next deal and happy I won't be seeing you in court with these Buyers.

Most sincerely yours,
Linda Holley, Realtor, GRI
www.PalmerRanchLindaHolley.com

P.S. Buyers and Sellers Beware!  If you are thinking about selling your home, please take the Seller's Disclosure requirement seriously...it's the law and legal battles are expensive!