Read your contract approx paragraph 7 line 126 on most contracts in camden/Gloucester county, Burlington could be Paragraph 20... But it will say inspection contingency clause.or inspection repairs The amount of money stipulated there is what will guide you to your answer...
Also it sounds like you have a short sale contract, but you did not mention this. If you have a short sale, then you should have a short sale addendum attached to the contract also.
Depending which addendum is used, look for a paragraph that mentions money for inspection again. The title of the paragraph may read "Property and conditions" or something like this. there will be a repair amount stipulated there also. The addendum changes supersedes the contract provisions in most cases, unless you made other changes along the way.
If you cant read the contract or dont understand it, have an attorney read it for you. time is of the essence in either case so act on this ASAP.
the problem you are experiencing is exactly why I like short sale buyers to get their inspection done before the bank makes a decision. There is a three part reason for this also. This is only one part so you are not wasting your time on a property you will not buy or dont want to buy.
There are other reasons I do this also that benefit the buyer greatly.
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