Home Buying in North Leg>Question Details

Amy Selmer,  in Dawsonville, GA

can you terminate if seller does not respond to amendment to address concerns with property until after due?

Asked by Amy Selmer, Dawsonville, GA Thu Feb 28, 2008

diligence period is up

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Not only can you terminate, but you MUST terminate if you do not wish for your client to buy it as/is! Due Diligence periods are great, but if you don't watch the time table, your client just bought it as is.
1 vote Thank Flag Link Thu Feb 28, 2008
Joshua Jarvis, Real Estate Pro in Duluth, GA
MVP'08
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If your Due Diligence period is up you have lost your ability to terminate. There seller does not have to respond to your Amendment to Address Concerns. If you do not terminate prior to the end of the Due Diligence you are accepting the property as is.

Are there any other contingencies outstanding?
1 vote Thank Flag Link Thu Feb 28, 2008
Did the seller respond? If it was after the due deligence has elapsed, the buyer does have options that must be exercised in writing. Is your buyer trying to get out of the contract? Why else would both agents allow the seller to go beyond the due deligence period?

Just curious.
0 votes Thank Flag Link Wed Jan 19, 2011
Include this in your amendment and you can. I noticed this statement while looking through the 2008 Special Stipulations section of the GAR Contracts. Pretty neat!

AMENDMENT TO ADDRESS CONCERNS AS NOTICE TO TERMINATE
In the event this Amendment to Address Concerns with Property is not accepted by Seller and delivered back to Buyer prior to
the end of the Buyer’s Right to Terminate this Agreement, this Amendment to Address Concerns with Property shall serve as
notice of termination of this Agreement upon expiration of the Right to Terminate period as set forth herein.
0 votes Thank Flag Link Mon Jul 21, 2008
You need to terminate before your due dilligence period is up.
0 votes Thank Flag Link Thu Feb 28, 2008
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