Q: Buyers want to back out of the contract the sale of our house. Do we have to sign a mutual release?
The home inspector stated the outside wall posed a safety hazard. Structural engineer and foundation expert did not make this statement. There are no cracks in the sheet rock inside, but some missin mortar was discovered upon inspection Structural engineer stated in his opinion that the cracks do not represent a significant problem to the brick veneer nor to the house. Foundation specialist stated that cracks in the brick/mortar joints are caused by a dip in the center of the foundation wall. This more than likely occurred during last year's drought. This is a fairly minor movement and will only be an issue during the sale of the home. Their agent stated that her clients suspect that the movement in the brick is due to failure of the brick ties( either because of the shift in the structural foundation or because they were improperly installed originally.) The house is about eighteen years old. We really don't think we should have to sign a mutual release, but want to do what's right.
A: The answer to your question lies in the contract for sale itself. Review the contract carefully. It will tell you what rights and remedies you have in calling off the sale because of a negative report by the inspector.
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