Quote:
Originally Posted by GGG
Couldn’t you demand more explicit terms?
For the buyer to back out he needs to prove he could not obtain financing at x interest and the seller reserves the right to select a mortgage broker to validate financing could not be obtained.
or on Home inspection give the option of the seller to remediate a defect instead of canceling the deal.
Now whether the buyer accepts the more stringent conditions would be up to them but I don’t see why you couldn’t add more stringent conditions drawn up by a lawyer to limit the ability to back out and stipulate direct penalties for backing out.
Or even add a clause saying there is a $1000 penalty for backing out for any reason.
It’s really a function of whether it’s a buyer or sellers market.
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Isn't that basically what the buyer paying for a home inspection does?