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…

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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…

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Seller Not Liable for Unknown Roof Leaks

Question: Three months ago, we sold a small office building in midtown Phoenix. During the escrow period, the buyer hired a building inspector. We gave permission to the inspector to inspect the building, including the flooding of the roof to determine if there were any roof leaks. There was no problem with the roof. We…

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