Posts Tagged ‘Can a Buyer Cancel a Purchase Contract Before Closing’
Is 10-Day Inspection Period A ‘Free Look’?
Question: We signed a purchase contract to sell our Rio Verde home to Los Angeles buyers for $1.2 million with $50,000 earnest money. During the 10-day inspection period the buyers cancelled the purchase contract and demanded their $50,000 earnest money back. Their only reason for cancellation of the purchase contract was that they would be…
Read MoreIf Seller Lies, Can Buyer Cancel a Purchase Contract Before Closing?
If Seller Lies, Can Buyer Cancel a Purchase Contract Before Closing? Question: Last month we signed a contract with $10,000 earnest money to purchase a home in Sedona. In the Seller’s Property Disclosure Statement (“SPDS”), the seller said that there had never been any termites, or any termite treatment. During the escrow we had a…
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