Virginia Beach, VA asked in Real Estate Law for Virginia

Q: Real estate contract with home inspection contingency addendum, but "for information purposes only"

I have a real estate contract where a buyer submitted an offer to buy my rental property. There is a home inspection contingency addendum, but the offer was written as "for information purposes only". Upon performing the inspection, there are some minor repairs required, and the buyers are trying to back out of the contract. Doesn't the "for information purposes only" essentially make the offer non-contingent?

I am a licensed real estate agent in Virginia.

Related Topics:
1 Lawyer Answer
Richard Sternberg
Richard Sternberg
  • Potomac, MD
  • Licensed in Virginia

A: It depends on what the clause says, doesn’t it? If the clause gave all the possible rights to walk away but the words “for information only” were added, we might say the information was to inform the walking away. If the walking away was eliminated, perhaps the default clause is in effect and the earnest money is at risk. Get a real contract review.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.