bubbleshickory
New Member
We (the sellers) recently entered into a contract on the sale of our home. In our contract under CONDITION OF PROPERTY: it states
"Buyer at Buyer's expense shall have the privilege and the responsibility of inspecting the structure, square footage, environmental concerns including but not limited to mold, radon gas, lead-based paint and lead-based paint hazards, wetlands study, appurtenant buildings, heating, air conditioning, electical and plumbins systems as well as built-in appurtenant equipment or appliances...In the event repairs are necessary to place the heating system, air conditioning, plumbing, and electrical system to be conveyed in operative condition and to make the roof free of leaks, and the dwelling structurally sound, the Seller shal be notified in writing of the specific defeciencies within 48 hours after the inspection date...The cost of all repairs to the heating system, air conditioning, plumbing, and elecrical system to be conveyed, and to make the roof free of leaks, to address environmental concerns and to make the dwelling structurally sound and provide wood infestation treatment, if any, required...to be paid by Seller. If the Seller refuses to make these repairs and treatment, the Buyer shall have the option to (1) accept the property in its present condition, (2) negotiate with the Seller for the payment of these repairs and treatment, or (3) terminate this agreement"
OK, sorry that was SO LONG - The buyers obtained an inspection of our home - the inspector - who may I say is NOT a licensed contractor made several observations about the "structural integrity" of our home. After having a licensed contractor AND a structural engineer come and survey our home, they both concluded that the inspector was not only wrong, but an alarmist and scared the buyers. Now, the buyers are threatening to back out of the sale because they are "scared." If there is no "satisfactory inspection" contigency in the contract and the only thing mentioning inspection (listed above) says that the Sellers have to pay to fix plumbing, electrical, HVAC or structual (which we have done or are in the process of doing) can the buyer back out? If they can't back out and are liable, what are they actually liable for? Just the ernest money? We are 17 days away from closing and want to know what are legal options are if they do infact back out. Is there some recourse beside the measly 1500 in ernest money that we'd have to split with the agents anyway?
Thanks!!
"Buyer at Buyer's expense shall have the privilege and the responsibility of inspecting the structure, square footage, environmental concerns including but not limited to mold, radon gas, lead-based paint and lead-based paint hazards, wetlands study, appurtenant buildings, heating, air conditioning, electical and plumbins systems as well as built-in appurtenant equipment or appliances...In the event repairs are necessary to place the heating system, air conditioning, plumbing, and electrical system to be conveyed in operative condition and to make the roof free of leaks, and the dwelling structurally sound, the Seller shal be notified in writing of the specific defeciencies within 48 hours after the inspection date...The cost of all repairs to the heating system, air conditioning, plumbing, and elecrical system to be conveyed, and to make the roof free of leaks, to address environmental concerns and to make the dwelling structurally sound and provide wood infestation treatment, if any, required...to be paid by Seller. If the Seller refuses to make these repairs and treatment, the Buyer shall have the option to (1) accept the property in its present condition, (2) negotiate with the Seller for the payment of these repairs and treatment, or (3) terminate this agreement"
OK, sorry that was SO LONG - The buyers obtained an inspection of our home - the inspector - who may I say is NOT a licensed contractor made several observations about the "structural integrity" of our home. After having a licensed contractor AND a structural engineer come and survey our home, they both concluded that the inspector was not only wrong, but an alarmist and scared the buyers. Now, the buyers are threatening to back out of the sale because they are "scared." If there is no "satisfactory inspection" contigency in the contract and the only thing mentioning inspection (listed above) says that the Sellers have to pay to fix plumbing, electrical, HVAC or structual (which we have done or are in the process of doing) can the buyer back out? If they can't back out and are liable, what are they actually liable for? Just the ernest money? We are 17 days away from closing and want to know what are legal options are if they do infact back out. Is there some recourse beside the measly 1500 in ernest money that we'd have to split with the agents anyway?
Thanks!!
