If you missed the first post on this subject, please read Is it a Contract? before you continue here.

The latest is that the seller's attorney as written to the buyer and said the seller intended to sue, but that according to the contract, the parties must go through mediation first. This letter suggested 3 attorneys that the seller would approve as a mediator.
BTW, in my opinion, there is no contract because the closing date (Time is of the Essence) has passed as well as the 10 day extension in the contract (Time is of the Essence) has passed.
The builder is accusing the buyer of not proceeding in a timely manner through the process.

To this date, there is still no CO for the property.
We are researching the mediation process of the NAR because this is what the contract calls for. Tomorrow, Monday, we will be able to get the information we need so that we can advise the buyer (we,of course,have advised the buyer to obtain an attorney).
The saga will continue.

Liz Loadholt
Broker, SC Certified Trainer, Relocation Director
Co-founder of AgentOwned Realty
Liz@AgentOwned.com
843-725-5007

The AgentOwned Realty serves your real estate needs for:
Charleston, Johns Island, James Island, Mt. Pleasant,
Isle of Palms, Sullivan's Island, Daniel Island, North Charleston,
Summerville,Goose Creek, Moncks Corner, Santee, Manning, Sumter, Florence, & Myrtle Beach, all in South Carolina


Copyright © 2009 By Liz Loadholt, All Rights Reserved. This post may be re-blogged only with a link back to this post.*Is It A Contract - Part 2*