Inspection Contingency Clause question

[Peyton LaBarbera]

Just to clarify if within the 10 day inspection contingency clause I decided to back out because I can't find a buyer do I get my EMD back?

I watched a Flipping Mastery video and he explained it where this is totally acceptable but I just want to make sure, thank you to all that reply.

[John Clark]

Your inability to get a buyer is irrelevant to failing an inspection. Therefore, inspection clause cannot be used to get out of a deal where the real reason is no buyer. 

The seller may or may not pursue you but that is a separate matter. The inspection period is not a “get out of jail free” card. If you don’t hold the inspection AND communicate your results within the time allotted to do so, you are on the hook and no return of your earnest money deposit. You also may have a situation where the seller has an opportunity to cure the defects revealed in the inspection. 

Using an unrelated clause to duck out of your failures as a wholesaler, however, is dishonest. Now you know why people hate wholesalers.