I was just informed that the buyer's lender is requiring us to have a Multiple Dwelling Certificate. In the adendum to the contract, this line has been stricken and initialed. The original closing date has passed.
If we had closed on the original date, the buyer's lender was fine without this certification. But they are now requiring it.
Because I have no guarantee that the buyer's lender will accept a Temporary Certificate, I am hesitant to even apply for one. There is also the fact that I would be opening to flood gates to state housing inspection. My house is a 3family, but only 2 families have dwelt in it for the last several years.
If I decide not to comply, is this considered a breach in contract, and can I still be accused of "specific performance", and/or sued?
2007-05-30 09:17:48 · 2 answers · asked by d.adv0cate 2 in Business & Finance ➔ Renting & Real Estate
I am assuming that your accepted offer to purchase did not require a Multiple Dwelling Certificate. If this is the case, you are not responsible to provide a certificate which was not initially a part of the accepted offer. If the buyer wanted such a certificate, it should have been a condition of the offer to purchase.
Without seeing your contract, it's difficult to determine if there is other language in there covering this issue, but it would seem not, since the line dealing with it was struck from the offer to purchase.
2007-05-30 09:26:00 · answer #1 · answered by acermill 7 · 1⤊ 0⤋
No, unless it was an addemdum which you signed and agreed to. It will mean that you will not make the sale most likely, though.
2007-05-30 09:27:39 · answer #2 · answered by Cloee Quips 4 · 0⤊ 0⤋