Can the seller legally not release my binder if I do not accept the inspection report?
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Can the seller legally not release my binder if I do not accept the inspection report?
I had a contract on a home contingent on a favorable home inspection. Upon a professional home inspection, they did find some minor electrical and wood rot damage, but the roof was reported improperly installed and requires repair or replacement. Sellers had their roofing company write a statement of date of installation and type and life of shingles with no report of actual conditions found. If I am the buyer and I do not accept the report from inspection, is there some real estate law that enforces the seller to release my binder back to me?
Asked on June 6, 2017 under Real Estate Law, Alabama
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
It depends on the exact language of the inspection contingency in the contract: the contract's terms govern. So if the terms of the contingency allow you to terminate the contract based on the initial home inspection wich found improper roof installation, then you may terminate and they would have to return your deposit(s).
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