Home Buying in Warsaw>Question Details

JW86, Home Seller in 46538

Can a buyer back out of Purchasing after inspections, even if the sellers willing to make any or all repairs?

Asked by JW86, 46538 Mon Sep 3, 2012

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JW86:

Great question. The answer is - as it often turns out to be - "it depends."

I'd highly recommend talking to a real estate attorney whom you trust. There are specific transactional details which might give a Buyer the ability to terminate the Agreement based upon inspection findings, even if the Seller is willing to make repairs.

The Sellers Disclosure, for example, may need to be amended prior to closing to adjust for newly discovered facts. A Buyer is NOT required to accept the amended Disclosure, and may terminate the deal if the new Disclosure does not suit them.

For example, it may have been discovered subsequent to an inspection that the Seller did not get proper permits for some work which had been done to the house. The Seller would be required to amend the Disclosure prior to closing to reflect that fact. There is nothing which forces the Buyer to accept that amended Disclosure, and the Buyer might choose to terminate the deal as the result.

Good luck!

Joe Shoemaker
Principal Broker, REALTOR®
MacDuff Realty Group, LLC
317 413.8501
joe@joeshoe.com
http://www.facebook.com/joeshoe
http://twitter.com/#!/jojosmojo
0 votes Thank Flag Link Mon Sep 3, 2012
Your agent, and or attorney can better advise, therefore consider asking either party; much will depend on your agreement.
0 votes Thank Flag Link Mon Sep 3, 2012
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