What can happen if the buyer is unhappy with the home inspection results?

What can happen if the buyer is unhappy with the home inspection results?

• A. They must complete the sale
• B. They may back out with no penalty if included in offer
• C. They can only request repairs
• D. They must negotiate for a lower price

Answer: (B)

If a buyer is unhappy with the home inspection results, they may back out of the purchase with no penalty if such a condition was included in their offer. This typically refers to a contingency clause that allows buyers a specific period to conduct an inspection and decide whether to proceed with the transaction. If the inspection reveals significant issues, and an agreement wasn't reached on how to address those concerns (such as repairs or concessions), the buyer is within their rights to withdraw from the deal without facing financial repercussions, provided that the contingency is clearly stated in the initial offer. In real estate transactions, these contingencies are crucial as they protect buyers by giving them an opportunity to reassess their commitment based on the home's condition. If it was not included, the buyer may be at risk of having to proceed regardless of their concerns.

If a buyer is unhappy with the home inspection results, they may back out of the purchase with no penalty if such a condition was included in their offer. This typically refers to a contingency clause that allows buyers a specific period to conduct an inspection and decide whether to proceed with the transaction. If the inspection reveals significant issues, and an agreement wasn't reached on how to address those concerns (such as repairs or concessions), the buyer is within their rights to withdraw from the deal without facing financial repercussions, provided that the contingency is clearly stated in the initial offer.

In real estate transactions, these contingencies are crucial as they protect buyers by giving them an opportunity to reassess their commitment based on the home's condition. If it was not included, the buyer may be at risk of having to proceed regardless of their concerns.