• Scope of Settlement

    From Leonard S.@21:1/5 to All on Thu Oct 6 09:59:45 2022
    A sale of residential property included 45-days long stay after closing under Temporary Occupancy Agreement. It required a two weeks’ notice if Seller wants to move out earlier and a Final Walkthrough on the day before the end of possession. Both terms
    have been breached. Consecutively, Seller authored and Buyer counter-signed a dated Mutual Release of Claims under which Buyer got the Temporary Occupancy security deposit (1/800 of the purchase price).

    In Consideration of a Full and Final Settlement:
    (Sellers) hereby release in full the funds being held by (Title company) that is part of the Temporary Occupancy Agreement for the real estate transaction for the property located at (address) to (Buyers).
    To the extent permitted by applicable law, each party releases the other party from any and all liability, damage, loss, cost, or expense incurred by the releasing party relating to the purchase and sale of (address). It is agreed that the signing of
    this agreement is not deemed to be an admission of liability on the part of either party. <<

    Should this be understood as covering just the breach of Temporary Occupancy Agreement and expenses “incurred” (that is up to the date of Release)? Or would it bar Buyer from any claims on the post-Release expenses to fix the defects predating the
    closing but marked as problem-free by Seller in Property Condition Disclosure? Seller responded via email that waving Home Inspection made Buyer ineligible to bring forward any claims based on Property Condition Disclosure.

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  • From micky@21:1/5 to Leonard S. on Fri Oct 7 07:13:45 2022
    In misc.legal.moderated, on Thu, 6 Oct 2022 09:59:45 -0700 (PDT),
    "Leonard S." <leonard.skemp@gmail.com> wrote:

    A sale of residential property included 45-days long stay after closing under Temporary Occupancy Agreement. It required a two weeks’ notice if Seller wants to move out earlier and a Final Walkthrough on the day before the end of possession. Both
    terms have been breached.

    By which you mean a) the seller moved out earlier than 45 days and
    without giving notice to the buyer. IANAL but what are the damages if
    he moves out *earlier*. Was he supposed to keep the furnace running
    and he didn't and the pipes froze and broke? Other than something like
    that, it seems good for the buyer if the seller moves out early.
    b) since there was no notice, there was no chance to
    do a walkthough. IANAL but what are the damages from not having a walkthrough. It seems like it's not the walkthough that causes damages
    but the damages made between the sale and vacating the home. If there
    was a deposit intended to pay for such damages, and it was for a reason
    I don't understand releaseed early or even improperly, the buyer's
    remedy is a lawsuit just as if there had never been a deposit.

    (Wouldnt' this be true if say, the seller had vandalized the house
    before leaving in a way that wasn't apparent during a normal walkthough?
    Maybe he removed the electronic controls from the HVAC system, or he
    removed a sound system that was a fixture or listed in the sales
    contract as included in the sale. If during a walkthrough, a buyer
    doesn't realize these have been improperly removed, don't tell me that
    the buyer is stuck? What if someone sold a used car and after the test
    drive and the contract was signed, but before the price was paid and the registration changed, the seller removed the engine? Is that a clear
    cause of action?

    Consecutively, Seller authored and Buyer counter-signed a dated Mutual Release of Claims under which Buyer got the Temporary Occupancy security deposit (1/800 of the purchase price).

    In Consideration of a Full and Final Settlement:
    (Sellers) hereby release in full the funds being held by (Title company) that is part of the Temporary Occupancy

    So the Title company is off the hook. They released the money to the
    buyer according to the Mutual Release of Claaim.

    Agreement for the real estate transaction for the property located at (address) to (Buyers).
    To the extent permitted by applicable law, each party releases the other party from any and all liability, damage, loss, cost, or expense incurred by the releasing party relating to the purchase and sale of (address). It is agreed that the signing of
    this agreement is not deemed to be an admission of liability on the part of either party. <<

    So this is the problem. Why does it say the buyer is releasing the
    seller before the planned walkthrough, which never happened? I thought deposits were released after walkthoughs, becaus otherwise, what is the
    point of a walkthough?

    IANAL but it seems the buyer gets to keep his 1/800 no matter how much
    damage there is to the house. Is it more than the depost. If the
    house is 240,000, 1/800 is 3000. If iit's a million it's 12,000. It's
    easly to leave 12,000 dollars of damage behind, but he has the 12,000.
    How much greater are the dmages than 12,000?

    Should this be understood as covering just the breach of Temporary Occupancy Agreement and expenses “incurred? (that is up to the date of Release)? Or would it bar Buyer from any claims on the post-Release expenses to fix the defects predating the
    closing but marked as problem-free by Seller in Property Condition Disclosure? Seller responded via email that waving Home Inspection made Buyer ineligible to bring forward any claims based on Property Condition Disclosure.

    When did the buyer waive the home inspection? This sounds like an
    illusory defense. If this is all he's got, the buyer may be in good
    shape for a lawsuit after all.

    --
    I think you can tell, but just to be sure:
    I am not a lawyer.

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  • From Leonard S.@21:1/5 to micky on Fri Oct 7 09:51:07 2022
    On Friday, October 7, 2022 at 9:13:49 AM UTC-5, micky wrote:
    In misc.legal.moderated, on Thu, 6 Oct 2022 09:59:45 -0700 (PDT),
    "Leonard S." wrote:


    In Consideration of a Full and Final Settlement:
    (Sellers) hereby release in full the funds being held by (Title company) that is part of the Temporary Occupancy
    So the Title company is off the hook. They released the money to the
    buyer according to the Mutual Release of Claaim.
    Agreement for the real estate transaction for the property located at (address) to (Buyers).
    To the extent permitted by applicable law, each party releases the other party from any and all liability, damage, loss, cost, or expense incurred by the releasing party relating to the purchase and sale of (address). It is agreed that the signing of
    this agreement is not deemed to be an admission of liability on the part of either party. <<
    So this is the problem. Why does it say the buyer is releasing the
    seller before the planned walkthrough, which never happened? I thought deposits were released after walkthoughs, becaus otherwise, what is the
    point of a walkthough?
    It was a combination of damage/removal of the attached, and there could be no walkthrough after Seller was gone, and Buyer was in. The exact inventory was not completed by the time both sides decided $1k forfeited is a reasonable shortcut.<<<

    IANAL but it seems the buyer gets to keep his 1/800 no matter how much
    damage there is to the house. Is it more than the depost. If the
    house is 240,000, 1/800 is 3000. If iit's a million it's 12,000. It's
    easly to leave 12,000 dollars of damage behind, but he has the 12,000.
    How much greater are the dmages than 12,000?
    Correcting the math: the sale price was $800k, and the deposit was $1k. <<<

    Should this be understood as covering just the breach of Temporary Occupancy Agreement and expenses “incurred�€? (that is up to the date of Release)? Or would it bar Buyer from any claims on the post-Release expenses to fix the defects predating
    the closing but marked as problem-free by Seller in Property Condition Disclosure? Seller responded via email that waving Home Inspection made Buyer ineligible to bring forward any claims based on Property Condition Disclosure.

    When did the buyer waive the home inspection? This sounds like an
    illusory defense. If this is all he's got, the buyer may be in good
    shape for a lawsuit after all.

    To win the bidding war, Buyer waived the home inspection, along with allowing a long after-closing stay with a small deposit. Effectively, they relied only on the Property Disclosure and the walkthroughs. Their settlement agreement I quoted verbatim
    is interpreted by Buyer's as applicable just to settling the Temporary Occupancy issues.

    Are the past tense of "incurred" and the fact the "the funds being held by (Title company) that is part of the Temporary Occupancy" enough to leave the issue of the the false Property Disclosure statements outside of the scope of the settlement? The
    seller looks on it like covering all those breaches as well, based on the language "any and all liability, damage, loss, cost, or expense incurred by the releasing party relating to the purchase and sale of (address)" and "for the real estate transaction
    for the property located at (address)".<<<


    --
    I think you can tell, but just to be sure:
    I am not a lawyer.

    --- SoupGate-Win32 v1.05
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