Quote:
Originally Posted by Heartnsoul
My husband and I put $10,000 down on a villa. The inspector found water damage which we want no part of. The RE agent tells us not to worry. We are. He sent me a addendum to contract to sign to add an additional 10 days to extend
The inspection period. If we don't sign, can we get our $10,000 back to move on and purchase another villa?
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Depends on the wording of your contract - read it, know what it says and notify the agent. I would sign nothing extending the inspection period (what's the purpose of this since you have already had the inspection and notified the agent you want out?). The agent is trying to hold the deal together - which is their job. Are you working with a Realtor or a Villages sales person (there is a difference).
Unless you have hired a "buyer's agent" the agent's job is to sell the house, they are paid by the seller. Make sure you understand the fiduciary responsibility of the agent.
Most likely it is as simple of notifying the agent you want out, signing the proper release and waiting for the escrow return, read your contract and see if this is true. Many contracts have a specified dollar amount for repairs, does yours? Or does it specifically say void for certain types of issues? Your contract will govern the process.
DO NOT SIGN AN EXTENSSION if you want out.