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Story Archives: Restaurant set to open in WM


Restaurant set to open in WM
by Bill Roark - posted E-mail Story E-mail Story | Print Story Print Story 
I recently read an article on a real estate transaction that occurred in Hawaii and added an important lesson to my continuing education.

The dispute was between a buyer and seller over development land on the island.

The land was advertised as a beautiful and secluded place where the constant sound of a waterfall could be heard day and night. It sounded to the buyer like the perfect location.

The buyer signed an option to Purchase with a large Deposit, to be forfeited if he did not close. At the same time he signed several addendums to the Option Agreement including an 'as-is' addendum and a 'Tree Frog Pest Alert' addendum. The buyer decided not to visit the property and canceled the Option to Purchase and forfeited his Deposit.
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Bill Roark is a Commercial Associate Broker at Keller Williams Realty and may be contacted at bill_roark1@yahoo.com.


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