Asked by heymjo, Las Vegas, NV • Thu Feb 7, 2013
My buyer has cleared all of the contingencies except signing off on the inspection results. It has now been 6 days past his 17 day contingency period. He had his inspection done over 3 weeks ago, and he has yet to sign off on the inspection contingency. My agent has let things slip as I have been bugging her to get him top sign off and she is supposed to have sent him a 48-hour demand to perform. So my question is this, since he did not sign off within the 17 days, is that contingency legally considered cleared? If he backs out of the purchase at this point, do I get to keep his deposit? Does he still have the 48 hours to back out or is it too late and the 48-hour notice to perform is just considered a courtesy?
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