QUESTION
Home inspection vs. rehab proposal
Asked on Jul 23rd, 2014 on Residential Real Estate - Colorado
More details to this question:
We have a cash offer on our home we are selling. Inspection was scheduled this past Monday. The Corp who is a cash buyer has asked us to give $7000 for fixes to our house. We asked for the inspection summary we received a rehab proposal showing all they would need to do to have the house ready to rent. Is this a legal inspection summary. We don't even really know what they want fixed. They want a credit at closing. We are wondering if we refuse to the credit and they pull out of the deal, can we keep the earnest money since this doesn't appear to be an true inspection . Your response is greatly appreciated
1 ANSWER
3 Awards
You primary question is can you keep the earnest money. Possibly, that will depend upon the language in the purchase contract.
As for the request for $7000, this is up to you to accept or deny or negotiate. The buyer cannot force you to accept this but if you don't the buyer may have a right to cancel the contract.
You should contact an attorney and schedule a consultation to review the facts and your contract.
Answered on Jul 24th, 2014 at 12:26 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.