Can the buyer terminate the contract if the home inspection revealed major repairs needed?
Full Question:
Buyer has signed a contract to purchase a house with the condition that the house pass a home inspection. However, Buyer would like to terminate the contract because the home inspection revealed some serious damages and the Seller did not disclose these problems prior to the signing of the contract. The seller has stated that he will fix any problems. Can the buyer get out of the contract? What about the seller's promise to make the repairs?
01/05/2007 |
Category: Real Property |
State: Alabama |
#132
Answer:
Generally, the buyer can get out of the contract if the contract stated that it is contigent on the buyer's satisfaction or acceptance of the home inspection. However, if the contract states that the seller will fix any problems found during the home inspection prior to closing, and seller agrees to do so, you are generally bound by the contract.
