Property Damage After A Property Is Under Contract – Who is Responsible?

by Josh on September 1, 2009

The following question was recently posed by a buyer:

Hi Josh – I was going to buy a house in Spring Hill, FL, but I had a question on the insurance for the house. If I signed a contract and then had a home inspection, and after the inspection period expired kids broke in and destroyed and stole stuff from the house… and I still don’t own the house in Spring Hill until the closing date, who pays the cost to repair or replace what got stolen/damaged? Thank you, Glenn

Hi Glenn,

Before I get into the answer to your question, I would strongly suggest you contact a local Florida real estate attorney for guidance, as this has to do with Florida contract law and as a Licensed Realtor in Spring Hill, Florida (and not someone who is licensed to practice law in the State of Florida), I am not allowed to interpret a Legal Contract – however I would suggest that the following clauses of the FAR/BAR As-Is Contract for Purchase & Sale may be useful… Click here to read the rest!

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