Asked by seller, Sacramento, CA • Sat Mar 16, 2013
If the buyer checks box A2 on the CAR CR form "All buyer contingencies are removed EXCEPT: addendum 1" (which list some repair items that were found on the inspection) is this full removal of his contingencies? Does this mean his deposit is now mine if he backs out? How does the addendum affect his deposit...not at all or only after all repairs are made and he approves? If checking A2 means his deposit is now mine, what is my motivation to get the repairs done if I know his deposit ($30K) is now mine? I'm just curious if this addendum is a delay to the removal of contingencies; what if I make all these repairs and he decides he "doesn't approve" and then backs out just before COE? Thanks for your help!
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