B
Bdespard
Guest
I live in CT but recently purchased a summer "cottage" in Vermont. I initiated the sale on my own with a standard Purchase & sales agreement. The seller's attorney added a clause stating that the "seller to pay Vermont state property tax form". The loan officer at the lending bank read this to mean the seller would pay $750.00 to the state of Vermont instead if the Buyer.
I used an attorney via limited power of attorney to close because I couldn't drive the 4 hours to Vermont that day.
The seller's attorney didn't attend the closing. At the closing the Seller questioned the $750.00 payment and was told the buyer usually pays that, but the purchase & sales document stated otherwise and they were shown the clause in question. They signed the documents and the sale was "closed". The sellers and thier attorney are now threatening me with a lawsuit for $750.00 plus legal expenses. My question is since the sellers added this to the purchase & sales and had the situation explained to them at closing before they signed the documents do they have a good chance to sue & win?
They are contending the loan officer mis interpreted their attorney's wording therefore I should be liable.
Is this true?
I used an attorney via limited power of attorney to close because I couldn't drive the 4 hours to Vermont that day.
The seller's attorney didn't attend the closing. At the closing the Seller questioned the $750.00 payment and was told the buyer usually pays that, but the purchase & sales document stated otherwise and they were shown the clause in question. They signed the documents and the sale was "closed". The sellers and thier attorney are now threatening me with a lawsuit for $750.00 plus legal expenses. My question is since the sellers added this to the purchase & sales and had the situation explained to them at closing before they signed the documents do they have a good chance to sue & win?
They are contending the loan officer mis interpreted their attorney's wording therefore I should be liable.
Is this true?