Q: On a Far bar AS IS realtor sales contract can a buyer use the contingency to just back out without inspecting
On a Far bar AS IS realtor sales contract
The inspection period ran out and just before it did the buyer's realtor emailed over an addendum with a lower offer claiming "due to inspection issues" , the problem I have is that they never inspected the house and are lying saying they did just because the clock was running out on their 10 days to inspect. They never contacted me to get in the house. I think they are using the contingency as a tactic to lower the price.
Is this Breach of contract? misrepresentation, fraud, not performing or something that I can mention at the mediation over the 5k escrow deposit. I have emails and texts to support their statements.
They also have refused to produce any inspection report, won't even tell me one detail from said inspection (that they never did)
A: The AS IS form contract to which I believe you are referring allows an unconditional right of termination during the inspection period. When I say unconditional, I mean if the buyer does not like the way the sun hits the rear yard, that is reason enough. So it can really be anything or nothing. They can cancel within that time period.
A: That is what the contract says, " If Buyer determines, in Buyer's sole discretion, that the Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice or such election to Seller prior to expiration of Inspection Period. If Buyer timely terminates this Contract, the Deposit paid shall be returned to Buyer, thereupon, Buyer and Seller shall be released of all further obligations under this Contract" Buyer can back out for ANY reason during the inspection period and get their deposit back; and owe you no evidence. You will simply need to relist.
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