1. Accept the results of the inspection as is or
2. Reject the results and have all Earnest Money returned or
3. Provide the results to the seller and negotiate repairs.
Once again, this should be outlined in your offer so read it over carefully or ask your Realtor to assist.
If you didnâ€™t use a Realtor and you didnâ€™t use state approved forms, then unfortunately you may need to seek legal representation if the seller isnâ€™t cooperating to your satisfaction.
Just another reason to use a Realtor.
if you discover something terribly wrong after the 10 day period, you can void the contract if financing falls thru........
Great response from realtor Wendy Remley!
As long as you had an inspection contingence and are within your time period to respond, you should be able to terminate your purchase and sale agreement. One last thing, itâ€™s always a good idea to have a signed acknowledgement from the seller that your p/s is terminated and earnest money is to be returned to buyer immediately.
If you did not use a realtor and you need assistance with this or in finding another home in Kenner or the greater New Orleans area, please don't hesitate to contact me via email at firstname.lastname@example.org or by phone at (985)807-3159.
Always make sure you make a housing offer contingent on a home inspection so if something awful shows up on inspection, you can get out of it.
If the inspection showed some seriously expensive flaws, it will probably be better to lose a $1000 deposit than to possibly spend tens of thousands of dollars on the house issues.