In the midst of this crisis and the unknowns that lie ahead, many real estate buyers are looking to get out of real estate contracts. Many calls this week pertained to the clause in the real estate contract that is labeled “Force Majeure”. This term, translated means “superior force”, that is a force beyond your control, such as “hurricanes, floods, extreme weather, earthquakes, fire, or other acts of God, unusual transportation delays, or wars, insurrections, or acts of terrorism, which by exercise of reasonable diligent effort, the non-performing party is unable in whole or in part to prevent or overcome.”
Whether the current times call for this depends on your circumstance. Loss of jobs, loss of income, unexpected layoff or business closure could all qualify to get you out of a contract.
Contact us today to discuss your particular real estate transaction and issues to see if we can help. With over 20 years experience, we are here to help you navigate these stressful times.
Here by FaceTime, Skype, Phone and email, call us anytime.
TRUST | COMMITMENT | RESULTS
Jacqueline Salcines, Esq.
305 669 5280
Leave a ReplyWant to join the discussion?
Feel free to contribute!