In Fort Lauderdale Real Estate, Expect the Unexpected

I’m not one to say, “I’ve seen it all.” I know there’s always more to be seen. But after 18 years serving clients in Florida Lauderdale real estate and home sales, I experienced the unexpected right before the New Year. As you’ll see in this recent video, I learned a lesson on trust – and why holding a signee to the terms of a contract is vital to saving a deal and protecting your interests.

In this video, we discuss how the unexpected almost caught me unawares. It was December 30 and my buyer was ready to close on a multimillion dollar deal. At the last minute, the seller wanted to let the contract expire. His reason: The Fort Lauderdale home sale market was so hot, the buyer knew if the home went back on the market, he could raise the price for my buyer or another buyer.

In some situations, especially with both parties in agreement, a contract may expire – and both parties walk away “no harm, no foul.” Yet the seller had malintent. He signed a deal – and got greedy. He defaulted on the contract. So we called our attorney, George Moraitis with law firm Moraitis, Karney, Moraitis & Quailey.

We prevailed. The seller had to own up to the terms of the contract. What’s more, because he defaulted (voluntarily, at that), the seller was liable for our legal expenses. Maybe he should have gone with the original contract after all.

If you ever have a good – and binding – contract go bad, don’t be shy. Contact your attorney. If you need a referral or just want to discuss your real estate needs, don’t hesitate to contact me.

Gary Lanham is team leader for the Gary Lanham Group at Coldwell Banker Real Estate Fort Lauderdale Beach Office. To learn more, visit instagram.com/garylanhamgroup or call 954-695- 6518.