Can Sellers back-out after Inspection???

[Ricardo R.]

Hi all, I have a question regarding home inspections:

1) After placing a property under contract with a signed accepted offer with an inspection contingency. Can the Seller back out the offer if the Buyer asks for an inspection credit? Essentially, can the Seller back out of the offer merely at the request of the Buyer asking for an inspection credit a walk away without countering; even though the Buyer may still buy the property as is? or......

Is more that that the Seller can only say no, and then it is up to the Buyer to accept or walk away?

Is just asking for an inspection credit reason enough for a Seller not to sell?

Alex

[Russell Brazil]

This depends on the contract and what is customary in the market place.  In my state we use 2 different contracts depending on the location in the state. One of these contract distinctly does not allow a seller to back out of the contract as the 1st reply to a request for credit or repairs, but may on the 2nd time. The other contract does not have any language that does...which means that the seller can in fact back out.  By making a request for a repair or credit, under our customary practices, that means that the negotiations are now open again and can be ended by either side.

You should consult with your agent about the contract and customary practices of your market.