Your Attorney is the best person to direct you.
To my knowledge, If you have signed the Middlesex MLS standard contract of sale,part of item no. 10b-Responsibilities to cure States clearly,
"If Seller shall fail to agree to cure or correct such defects within said seven(7) calendar days period, or If any part of the dwelling is found to be located within a flood hazard area, or If the environmental condition at the property (other than radon) is incurable and is of such significance as to unreasonably endanger the health of the Buyer, the Buyer shall then have the right to void this contract by notifying the Seller in writing within Seven (7) calendar days thereafter. If Buyer shall fail to void this contract within these seven(7) calendar day period, the Buyer shall have waived his right to cancel this contract and this contract shall remain in full force, and Seller shall be under no obligation to correct or cure any of the defects set forth in the inspections"
I hope this helps!!
Janet Larsen, Broker/Associate
660 Woodbury Glassboro Rd,
Sewell, NJ 08080
I think of inspection this way: you have the right to ask, and the seller has the right to respond. You may have a difference of opinion on whether your requests clear the hurtle of structural matters/repairs versus cosmetic requests As other posters have pointed out, you can request a credit in lieu of repairs and try to negotiate on that basis as well.
Just last week I ran into a case where a closing was delayed because the bank did not want to see an inspection credit on the HUD (closing) statement. A reduction in price rather than a credit at closing would hav cured this issue. So ask your lender and attorney about that if you successfully negotiate a credit.
Generally though, if a seller believes that you are trying to renegotiate price rather than negotiate valid repairs or a credit to cover them, the discussion does not go well.
Whatever the case, if you cannot come to an agreement, then you likely can request cancellation.
Good luck to you!
"Unwaveing Commitment to Service"
Search the MLS at http://www.feenick.com
Ask for a reduction in the purchase price
Ask that money be held in escrow at closing until the repairs are completed.
Your REALTOR and attorney can further explain the options are direct you to best best solution. Good Luck!
Keller Williams Realty - Atlantic Shore
With your list, I can help you to understand what the seller preceives as upgrades versus repairs.
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