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CONTRACT LAW ON SALES Right off, I am of the view that the seller is right when he / she says that the buyers must adhere to the terms of contract which they had both signed. In fact, the offer of the seller to pitch in $ 500 for the repairs is already a sweetener because he is not even expected to do that since he offered his house for sale and the buyers saw the goods themselves. The buyers signed the contract, meaning they are agreed to the terms and conditions stipulated in the contract. Just as with any other contract, this purchase or sale is legal because it possesses the following characteristics: a) there must be mutual assent resulting from an offer and an acceptance of that offer communicated to the person who made the offer b) the parties to the contract must be legally competent c) there must be consideration d) the subject matter of the contract must be legal. Since these aspects of the contract are present, then the purchase is enforceable in court. Add to that, the parties had already signed the contract.
The buyers should have read everything in the contract and examined the house before signing. Perhaps they could still brought out that point but after the contract has been signed is no longer binding. In a way, by signing the contract, the merchandise, which is the house, is already belonging to the buyers. The seller no longer bears the complaint of the buyers. Another angle here is the rights and remedies as a buyer of goods that turn out to be sleazy or at the very least, not what you though they were when you bought them. When you enter into a contract, you and the other party have a duty to perform according to the understanding, express or implied, between you.
These undertakings regarding quality of the merchandise being bought or sold are called warranties. Yet every salesman is expected to build up his product. If the realtor here in the case exaggerated the qualities of the house to the buyer, such overemphasis of the goods, called puffing, does not constitute a warranty. Such statements by sellers are merely exaggerations, which the buyer must learn to take with a grain of salt and to protect oneself against by making reasonable inquiries. When the product (the house) turns out to be not only of a different quality from what one orders but actually harmful, then the buyers need to ask themselves if they had exercised the right and enough inspection of the product even before they bought it. In fact, they should have asked the neighbors around what they think about the location of their village, what their complains are, how is it to live in that neighborhood and many other pertinent questions.
Buying a house is a big undertaking and just leaving everything to chance might give one headaches later. If the buyer here refuses to pay the agreed purchase price, the seller has several courses of action available. The choice of one or another remedy depends on the circumstances in each case, especially on such questions as who has possession of the merchandise and who has title to it. Moreover, once a contract for the sale of real property has been signed, the buyer and seller have the same obligation to perform as do the parties to any contracting the remedies available to them if the contract is breached are also the same. If the seller reneges and refuses to transfer title, and the buyer suffers other financial losses, he may sue for damages for breach of contract.
In this case, there was a closing done. There was a meeting between the parties to the contract for the sale of the property and others who have an interest in the sale were present. They gather to make sure that all necessary documents have been prepared in accordance with the contract, to affix signatures and to agree on the appointment of various expenses that the buyer and seller have agreed to share under the terms of the contract. When all the details have been settled and the terms of the contract complied with, the seller and buyer signs the deed. In this case, this has been done.
Thus, complaining after the signing is no longer all right because it has been presumed that the buyer, before signing has inspected every nook and cranny of the house. It is the buyers fault that he only got to see the actual condition of the house after the signing because that should have been the very first thing he should have done. If he was not able to do it, then it is his fault. The seller already extended a good gesture of putting in some amount for the repairs.
Adding more to that would be improper to ask. The real estate agent also should have oriented the buyers about anything that may be a question to the future owners. But if it is something like a dirty chimney that needs sweeping or just a minor repair job, then that can easily be encompassed by the $ 500 put up by the seller. The buyer is already being picky if he points out the other repair jobs especially if they are very minor. The deal is complete and legal and the parties concerned are obliges to do their part of the contract. REFERENCE Poor, H. (1971).
You and the Law.
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