I sold a property a few months ago and have received 3 of the 4 payments that were due. The last payment was due to be in the buyers lawyer account at the end of July. The Offer of Purchase says that if any of the payments due are not received within 15 days then the offer is null and void and that any monies previously received were non refundable.
In the meantime the appliances were stolen and even though they were not included in the sale I agreed to pay a fair amount for the buyers to buy new ones along with an allowance for some damage caused by the robbery.
Another problem is that the central air conditioning unit is not there. It was not there when I purchased the property so, obviously, it would have not been there when they made the offer. The Offer of Purchase does not mention any air conditioner being included in the sale. Now they want me to have a new one installed. That, of coarse, is out of the question.
So, I guess my legal question is this: Since the first issue (not having the final payment) precludes any problems that happened afterward, is the offer now legally null and void? To me the answer is obvious, but here, you never know. And how complicated, time consuming, and expensive could this become? Would the buyers have to file suit against me? Would the property be in limbo and therefore not be able to be sold until all of this has been resolved?
Just to be clear, I am more than willing to sell the property as agreed. I am not looking to take advantage of anybody. But it appears to me that the buyers are either very naive or trying to pull a fast one.
Any comments would be appreciated.
In the meantime the appliances were stolen and even though they were not included in the sale I agreed to pay a fair amount for the buyers to buy new ones along with an allowance for some damage caused by the robbery.
Another problem is that the central air conditioning unit is not there. It was not there when I purchased the property so, obviously, it would have not been there when they made the offer. The Offer of Purchase does not mention any air conditioner being included in the sale. Now they want me to have a new one installed. That, of coarse, is out of the question.
So, I guess my legal question is this: Since the first issue (not having the final payment) precludes any problems that happened afterward, is the offer now legally null and void? To me the answer is obvious, but here, you never know. And how complicated, time consuming, and expensive could this become? Would the buyers have to file suit against me? Would the property be in limbo and therefore not be able to be sold until all of this has been resolved?
Just to be clear, I am more than willing to sell the property as agreed. I am not looking to take advantage of anybody. But it appears to me that the buyers are either very naive or trying to pull a fast one.
Any comments would be appreciated.
