What happens if the Seller responds to the Buyer’s Home Inspection Removal Addendum?

 

If the contract is ratified with a short Negotiation Period, the parties are at a considerable disadvantage. The Home Inspection Contingency Removal Addenda are often lengthy, with considerable requests from the Purchaser. If saddled with a short Negotiation Period, the Seller will have to come up with a tactical response almost immediately. That response will need to be conveyed (practically speaking from listing agent to selling agent) and relayed to the buyer equally quickly. Armed with very little time to consider the seller’s response, the buyer will need to determine a course of action rashly, without ample time to consider the repercussions (losing the house vs. costs of repairs, time constraints, unexpected loss, etc.)  Assuming the buyer still wants the home, the parties must now reach a bilateral signed agreement memorialized in the form of a contract addendum. All of this must take place within a short time frame. 


Commercial Council