Home Buying in 53713>Question Details

E, Home Buyer in 53703

inspection contingency was not checked

Asked by E, 53703 Sun Jun 22, 2008

An offer to purchase without the inspection contingency box checked was sumitted an accepted.
The sellers are agreeing to let te inspection occur anyways. If the inpector finds a major problem and buyers decide that it is not a good purchase -can they still back out of the purchase? even if the inspection box was not checked?

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Answers

3
I would be very interested to hear if an agant was involved in this transaction. It is possible for an agent to forget, however, I suspect one was not.
In effect, you missed off the contingency, and have no right of recourse from the result of the inspection and if you decided not to buy, you could have yourself a bit of a problem.
However, if both parties are reasonable, you could work something out. (This should be easier with a 3rd party, which is why I asked if an agent was involved)
If you are not happy with the resupts of the inspection and you want out, I would run, not walk to the door of a good Real Estate Attorney.
1 vote Thank Flag Link Tue Jun 24, 2008
Many lenders carefully read the appraisal for the appraisers feedback and if the appraiser has highlighted any issues the lender can say as a part of the committment that such & such should be checked.
0 votes Thank Flag Link Sun Jun 22, 2008
In general, the written, signed documents (offer to purchase and associated addenda, amendments, etc) identify the conditions under which the buyer can back out. Was the agreement to allow the inspection in writing? If so, did the document say anything about negative results? If there's nothing written, you probably can't use inspection results as a reason to get out of the deal. On the other hand, you have a seller willing to work with you - which is a good thing! Best of luck.
0 votes Thank Flag Link Sun Jun 22, 2008
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