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re: Backing out of Purchase Agreement
Posted on 5/28/15 at 8:05 am to blueboxer1119
Posted on 5/28/15 at 8:05 am to blueboxer1119
quote:
They wouldn't even let me see the inspection report.
I'd at least use the leverage you have to get a copy of the inspection report.
I had a similar situation recently. The buyer wanted an inspection and get agreed the PA wasn't binding if something came up in the inspection. The guy tried to weasel me out of a few thousand more dollars over some tedious crap, so I asked him for a copy of the report. I was already below my lowest number, so I just told him that the price is [what we agreed to] and if he didn't accept that, I am assuming he is backing out of the PA based on the clause about the property passing inspection. I haven't heard back from him.
1
Posted on 5/28/15 at 8:07 am to boosiebadazz
quote:
I'd at least use the leverage you have to get a copy of the inspection report.
On what grounds? Did he pay for it? I didn't see anything about it in the contract.
And like others have said, Mr Investor would then have to disclose everything in the report. And you know the next buyer's inspector will find issues other than what is disclosed.
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