Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Agent
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

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

Loading replies...