What happens if buyer doesn't respond to inspection?
What happens if buyer doesn't respond to inspection?
If the buyer does not perform inspections and submit an addendum requesting repairs within the inspection period, they have committed to buying the home in “as-is” condition. ... In this instance, the buyer may choose to proceed with purchasing the home in “as-is” condition or terminate the transaction.Jul 2, 2019
How long does a buyer have to respond?
Although you should expect an answer between 24 and 48 hours of making your offer, there are some exceptions. Certain real estate markets may have different customs. Technically, you can attempt to expedite the process by placing an expiration date on your offer.May 14, 2020
What happens if buyer backs out after home inspection?
Most of the time, the purchase contract will allow you an "out" if, after completing your home inspection, you decide the house just isn't right for you. ... If you are past the inspection deadline, though, it is possible that your earnest money might not be refundable.