Home Inspections: Negotiations

  • The inspection contingency is not intended to apply to minor maintenance items, cosmetic defects, or items which are simply old, if they are in proper working order.

 

  • You are not legally required to make repairs, however if defects are found, and you refuse to address the defects, the buyer may have the right to cancel the Contract and would be entitled to the return of the down payment.   In most cases the parties are able to come to a mutually acceptable arrangement.

 

  • In some cases the parties may agree upon monetary credits in lieu of actual repairs.   Any such credits must be approved by the buyer’s mortgage lender.

*  This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

"Before making your choice of attorney, you should give this matter careful thought. The selection of an attorney is an important decision."