Q: My father is selling his mobile home, agreed on a price, inspection came back and told he needs to deduct $800?
My dad agreed to the $26,000 someone offered him, inspection came back with deficiencies and my dad was told he needed to deduct $800. My dad doesn't want to sell now based on the $800 deduction, but the real estate agent told him he has to sell it or he will get sued. Is this true? My dad signed an agreement for the $26,000, but didn't sign anything after the inspection and when he was told he needed to deduct $800 from the asking price.
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A: If the agreement was for $26,000 your father should receive the full $26,000 if he does not want to make any concessions. Generally the agreement with have a time period for the due diligence - inspections, etc. during that time if an issue is discovered, the buyer can chose to waive the deficiency and purchase or the buyer can walk away. It's highly unlikely for the contract to contain a provision that would require the seller to pay for correcting the deficiencies that are discovered during the due diligence period. I would carefully review the contract to determine what his rights and obligations are as expressly written in the agreement.
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