Home Selling in Parker>Question Details

Russell Nich…, Both Buyer and Seller in Parker, CO

Inspection Deadline missed??

Asked by Russell Nicholls, Parker, CO Sat Jul 6, 2013

Our buyer sent the Inspection Report a day passed the deadline listed on the contract. Are we as sellers obligated to fix anything they requested? Also, are the buyers still held to the contract of buying the home and not able to back out since they were late in meeting the deadline?

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You were never obligated to fix anything, you can always say NO. The buyers can walk away if you do and they can walk away if they want anyway. There are a lot of if's and since we don't know how the contract is written I can't say much for certain.

Was there an inspection period or was there a due diligence period in the contract? Pretty much the bottom line is "How much do you want to sell the house"? Dates and deadlines are more of a goal than a cast in stone date unless certain terms and legal language is used. The buyers can always walk away, the question is what will the consequences be if they do. You might get their earnest money, but you won't be selling the house to them, so is that you goal now?
2 votes Thank Flag Link Sat Jul 6, 2013
Tim is so insightful.
Just to add; you are obviously working without a Realtor, or you would not have to ask these questions.
If the Buyer also is working without a Realtor, and did not include the normal Contingencies; then you both will end up with what you create; confusion!
0 votes Thank Flag Link Sat Jul 6, 2013
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