How long does a buyer have to remove repair contingencies after a repair is completed?
Question Details: During inspection, the buyers identified an item to be repaired with receipts provided prior to final walk-through. After repair was completed per ROC, the buyers didn't approve and would like additional work to be completed before signing off. As the seller, I'm not willing to do more work than was necessary. How long does the buyer have to remove contingencies or submit cancel/release form to me? Can I initiate a cancel/release if not completed in a timely manner?
They have until the end of the repair contingency period as set forth in the contract. If they do not cancel by the time that period has expired, they will be deemed to have waived the contingency and to be accepting the property.
Rate This Answer:
Not Yet Rated
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.