If I’m purchasing a home and the inspection turned up some minor/serious issues a few more serious issues, can the contract be broken if the minor issues cost over $500 to fix?
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If I’m purchasing a home and the inspection turned up some minor/serious issues a few more serious issues, can the contract be broken if the minor issues cost over $500 to fix?
Also, is the homeowner required to fix items that are code violations before the sale is final, even with a conventional loan? Additionally, the inspector could not find the entry to the septic tank, so is the owner required to pump it out and have it inspected before the sale?
Asked on June 18, 2019 under Real Estate Law, Ohio
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
You can only get out of the contract if the contract has an inspection contingency or provision in it that states that if there are issues or problems, the buyer can terminate the contract if the seller will not fix them. If there is such a provision, you can use it to get out of the transaction so long as you comply with its provisions--so read the provision or contingency to see if it lets you out for the issues that were found.
There is no separate requirement to bring items up to code; the issue is the same as the above--is there an inspection contingency or the like which would let you out if there are problems or things to be corrected (which includes anything not meeting code) and the seller does not correct those items? If there is, you can use that provision to force repairs or else terminate the contract; if no such provision, the seller is under no obligation to do this.
There is no requirement to pump out septic and have it inspected unless he agreed in the contract of sale to do so.
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