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Updated over 3 years ago on . Most recent reply

Conte Cuttino's profile image
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Conte Cuttino
  • Rental Property Investor
  • Member since Mar 21, 2019
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Conte Cuttino
  • Rental Property Investor
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Memphis Real Estate Forum

Contingent on inspection

Conte Cuttino
  • Rental Property Investor
Posted

Hello guys 

I’m making a purchase in Memphis, the earnest money is 3000, the highest I’ve gotten to date. Under the agreement if I have “contingent on interior inspection” under special stipulations  will l’ll be able to back out and get my money back should the layout not work or repairs be more then expected? 

  • Conte Cuttino
    • Memphis, Tennessee
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    Verna Littleton's profile image
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    Verna Littleton
    • Real Estate Agent
    • from Memphis, TN
    • Member since Jun 25, 2015
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    Verna Littleton
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    Verna Littleton
    • Real Estate Agent
    • Memphis, TN
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    Verna Littleton
    • Real Estate Agent
    • Memphis, TN
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    Yes if the contract states that it is contingent on inspection, you can back out if the property does not meet your expectations. 

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