Talk of The Villages Florida - View Single Post - What happens first?
Thread: What happens first?
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Old 03-28-2024, 04:26 PM
retiredguy123 retiredguy123 is offline
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Quote:
Originally Posted by Inspector Mark View Post
In your purchase agreement you need to have an inspection contingency period. Usually 5 to 10 days.

You would both sign the agreement and the buyer would need to put down their EMD.

Then you schedule your home inspection within the contingency period. If the results of the inspection are unsatisfactory to you, you can get out of the purchase agreement and you get your EMD back.
Not necessarily. You may not be able to get out of the contract, depending on the wording of the inspection contingency. Typically, the seller has the option to correct the defects, and, if so, you are bound by your offer.