Posts Tagged ‘inspection’
Canceling Purchase Contract After Inspection Period
Question: We signed the standard AAR Purchase Contract (“Purchase Contract”) for the purchase of a Gold Canyon home near the Superstition Mountains. During the 10-day inspection period the seller agreed to make the minor repairs that our home inspector had recommended. We then flew back to Canada. Three days later our real estate agent called…Read More
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 More
Owner-Built Home Faces Sale Issues
Question: We bought a lot in Flagstaff several years ago to build our retirement home. Although my husband was not a licensed contractor, he and our son built the home mostly on weekends. After we retired, we moved to Flagstaff. The problem is that, due to the high altitude and cold, after only four months…Read More