Month: February 2017

Who Pays for Inspections of the Septic Tank?

Question I have a listing where there are multiple septic tanks on the property. One septic tank services the main house and one septic tank services a shop in the backyard. My sellers already paid for an inspection of the septic tank that services the main house. The buyer’s agent is now telling me that my sellers also have to pay for an inspection of the other septic tank, per the contract. Is t ...[Read More]

Irrevocable versus Revocable Offers

Question I represent the Buyer.  On Friday at 12:00 noon, we submitted an offer on a piece of property.  On Friday night, the Buyer found another house online that he wants to buy (the house has more square footage and is cheaper).  Can my Buyer cancel the offer on the first house and put another offer on the second house? Answer With more and more buyers using the Internet as their primary source ...[Read More]

Can A Contract Be Assigned

Question I represent the buyer. We have been under contract for a couple of weeks now.  My client signed the contract in his personal name.  After meeting with his CPA, my client now wants to change the “Buyer” to an LLC. Can my client do this? Answer You essentially want to know if your client can “Assign the Contract” to his LLC. According to Louisiana Civil Code Articles 2642 and 2653, generall ...[Read More]