Updated almost 4 years ago on . Most recent reply
Canceling a purchase agreement without an inspection
I recently just viewed a property that I was interested in and made an offer and my offer was excepted. My realtor made me waive my inspection due to the market being so competitive. I have a mortgage contingency as well as a dream buyers grant contingency and a I have to cover up to $2500 worth of FHA repairs. The house got appraised and it came back with some things that need to be fixed. I later went back to the property and the property suffered water damage causing the roof to cave-in. My realtor said that I can't say anything about the roof because the roof passed the appraisal inspection. I no longer want to be in contract with the house and would like my earnest deposit back. How do I go about getting that back?
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#1 Foreclosures Contributor
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@Tralecia K Young
1) if the roof collapsed After you had an executed contract, most contracts require the seller to keep/maintain the property in the same condition until closing.
2) if the roof is now collapsed there is No way it qualifies for fha….just notify your lender, they’ll RE inspect, your loan will get denied, you get your EM back, end of story b