Quote:
Originally Posted by Fighting Banana Slug
I don't think that is typically true. If the sale is conditional upon an acceptable home inspection, the potential buyer can waive the condition, in which case the contract is final, or rely on the condition to back out of the deal.
I suppose the buyer could try and renegotiate a better deal, but the vendor would be under no obligation to do so.
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Agreed.
I have only a couple scenarios running through my head.
My first home inspection we used the results to knock the price down to cover repairs we didn't anticipate on the initial offer.
I hadn't thought of just backing out entirely as I've never seen that happen.