What are the options of a buyer regarding backing out of the transaction if they have signed a purchase agreement but it is within the inspection period?
Question Details: Would they forfeit the earnest money deposit?
The inspection period allows you to back out if issues are identified which the seller refuses to address or fix. If there are no issues or the seller agrees to fix them, you cannot get out if the deal using the inspection period. As the realtor stated, if you refuse to through with the sale without just cause, you lise your deposit or earnest money.
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