Quote:
Originally Posted by Inspector Mark
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.
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If an inspection comes back not to your liking, you must write into the contract you want your EMD back. Otherwise all the homeowner must do is satisfy the home inspection problems. You cannot get out of the contract unless you add it in writing!