Asked by Emily, Northern Barton Heights, Richmond, VA • Fri Apr 4, 2008
I have a contract (with an inspection contingency) on a bank-owned property which I understand take more time than usual for negotiations. We got the inspection, found major issues, but couldn't gain access to the attic. Within the time limits (we had 5 days to respond after the inspection), we submitted a request for an extension of the inspection contigency based on the lack of attic access. We didn't hear back so, still within the limit (on the 5th day), we submitted a list of repairs based on the inspection report. It's been over 7 days and we have not heard back from the seller regarding either. Unfortunatly, our contract does not state that the seller has a time limit in which they have to respond to us. At this point, I'd like to back out and get our earnest money deposit back but our realtor said they we are essentially in limbo until the bank decides to respond. Do I have any options other than to sit around and wait?
Real Estate in Herndon
Popular Categories in 20170
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!