Q: Can we void a purchase contract on a house if the septic report comes back with an urgent need for replacement?
We are under contract and it has a septic inspection contingency. The seller is agreeing to replace it, but we can't wait as our current house is sold. It seems that it can be a long process. We are asking to void the contract.
A: An attorney cannot answer this without looking at the Contract itself. If the Contract has an inspection contingency then generally it will give a certain amount of time where the Buyers must communicate the desire to terminate the Contract due to an unsatisfactory inspection. So long as the buyer gives notice in that time frame and the way the contract says they can likely back out and get their money back. However, if the Contract gives the Seller the right to repair or if the timeframe for backing out has passed the answer will change.
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