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Updated over 9 years ago on . Most recent reply

User Stats

30
Posts
8
Votes
GL L.
  • Investor
  • TX
8
Votes |
30
Posts

Texas Agent Telling me I have to put up $200 for option to get out of bad inspection?

GL L.
  • Investor
  • TX
Posted

According to my agent  if I want the option to get out  of my buy contract if  inspection report bad, then I would need to  pay $200 or more.    Otherwise   I would lose my ernest money .  She says it is not mandatory but most seller agents will  discourage  seller from  taking offer unless that money is there for them.  Is this true?

I told her everything is negotiable and is not part of my negotiation  but she is still pretty insistent.  What am I missing?  

Most Popular Reply

User Stats

1,391
Posts
511
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Dan Mackin
  • Real Estate Agent
  • Erie, CO
511
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1,391
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Dan Mackin
  • Real Estate Agent
  • Erie, CO
Replied

Not sure in Texas, but around here that's not the case. The inspection contingency is just part of the procedure. If something isn't up to your standards by the inspection deadline then you can pull out and get your money back. You can use it or not use it, but I personally haven't heard of having to pay out to get out of the contract based on inspection. There may be something I'm missing, but that's how I'm reading it.

  • Dan Mackin
  • 720-466-3378

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