Are you buying or selling a home in Kansas City? Read the contract!
The closing on the sale of a home is completed. Both buyer and seller sign all the pertinent documents and the deal is done. The seller plans to move out the next day but hours following the closing of the sale, the water heater breaks. Who’s responsible for payment of the repair?
Is it the buyer because all the documents pertinent to the sale of the home have been signed? Or the seller because he still resides and has possession of the home?
Unless the contract stipulates otherwise, the party responsible for the repair is whoever has possession of the home at the time when the water heater breaks. In this case it was the seller.
A lot can happen after you close of the sale of a home and reading the contract before you sign it is of critical importance because it can cost you or save you a lot of money.
For more information about why reading a contract is important, contact me at 913-706-3971 or e-mail email@example.com