Quote:
Originally Posted by Vermilion Villager
Sounds like you want to cancel the transaction because the home failed the inspection contingency. There should be an addendum in your contract. Tell the agent your intention.... in writing. you'll get your money back. The leverage you have is until this is cancelled the seller has to disclose to any buyer the home has a contingent offer that the seller has accepted. You'll get your money back....
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I agree, but another issue is that the seller needs to disclose the water damage to any other prospective buyers. Also, if the water damage was not hidden, it should have been disclosed in the original listing offer. This could be another reason for the OP to file a complaint with the state license board.