What happens when I enter into a contract and the home inspections reveal too much work is needed?
Buyers have the opportunity to pay to have a Home Inspection completed on the home they are purchasing. When the report reveals that there is work to be completed, the buyer can prepare a “Request for Repairs” listing the repairs to be completed by the seller before the close of escrow. If the seller refuses to make the repairs, the buyer has a time period to give written notification to the seller that they no longer want to purchase the property and select to cancel escrow. The purchase contract gives the buyer the opportunity to approve the inspections, disclosures and unknown material matters. When there is an issue that cannot be agreed upon between buyer and seller, the buyer has outlined time periods to notify the seller and if the seller chooses to disagree, the buyer can cancel the transaction.
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