Q: What do I do if sellar won't sign release of contract for home inspection failure?
Put In and had offer accepted. Walked through house again and found growths in closet ceiling and leaks in garage roof. We did not give them the earnest money because we do not have the money to fix roof and interior of house. We brought the issue to the owners attention and they admitted they knew of the roof/ moisture issue. They made us get a 350.00 home inspec. The inspector found a lot wrong and gave me the report. I do not have the money to fix all that is wrong to live there. My agent drew up the release from purchase forms and we signed and sent them over. They are refusing to sign them. What do I do? I did not give the right to cure so I'm not sure what the delay is. In the mean time I've not been able to buy a house now and interest rates have gone up causing me to not be able to afford to buy. There actions are costing me a lot of money and cutting my time line to move out of my rental before having to sign a new lease. Can I sue for anything?
A: You could file a lawsuit for a declaration stating that the sale is null and void. But that seems unnecessary in this circumstance. You can probably just walk away from the deal. It happens everyday.
A: If you still have time under the inspection contingency, you should send a Notice Regarding Offer to highlight the defects and include a copy of the inspection report. Then, the question would become whether the seller has the right to cure defects.
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