J
JBob
TREF Guest
Can a buyer really walk away during contract for no reason now?
How is that fair?
How is that fair?
Well, if inspectors find issues or the homeowner is hiding something, isn't it fair for the buyer to be able to walk?
Well, if inspectors find issues or the homeowner is hiding something, isn't it fair for the buyer to be able to walk?
If sellers would fix stuff there would be less trouble.
Maybe if sellers would have inspections done and fix things before they list their home, they could avoid surprises during the due diligence periods.
Due diligence period protects the buyer when the seller is playing "Hide and Seek" with the house.
It saved my brother from a huge mistake. He still had to pay for the appraisal and his home inspection, but at least he didn't make a $650,000 purchase mistake.
We think the sellers knew the issues and wanted to see if they would slip past the home inspection and due diligence period.
Maybe if sellers would have inspections done and fix things before they list their home, they could avoid surprises during the due diligence periods.
What happens if the due diligence period is coming up and we still don't have our appraisal back?
Avril,
When the appraisal is not returned, it is not unusual for a buyer to ask for an extension of the DD Period until the appraisal is returned. The seller doesn't have to agree, but it helps if the buyer has been consistently doing all the other things buyers do, like inspections, survey, etc, to help the seller know that the buyer is putting their best foot forward in the transaction.
What can a buyer do if the seller doesn't agree to an extension?