Q: A buyer signed a contract to buy our property in TN and camper without first looking at it. They stipulated:
“Buyer has 10 days to complete inspections, this offer is contingent upon satisfactory inspection of camper”. After we accepted the offer, the buyer did look at the camper and says she doesn’t “like” it and cancelled the professional inspection. She has asked us to sign a release. We contend that she knowingly bought it without looking at it first, and if we sign the release she should have to pay us the earnest money. The real estate agent said that stipulation covers the owner looking at it. We say it doesn’t. A potential buyer “looks” while a professional “inspects”. From a legal perspective, why is your take?
A: There may be more facts that would be relevant to this if this were litigated. My take is that the buyer breached the agreement by cancelling the professional inspection. The contingency language implies that the buyer will do an inspection. By her cancelling it, the contingent provision could not be completed. Thus, the buyer breached and the seller should keep the earnest money. Another attorney could see this different and argue that as the satisfactory inspected condition was not completed the contingency was not met so the agreement specifies that the agreement may be cancelled and the buyer would thus be entitled to the return of the earnest money. Good luck.
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