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Updated almost 7 years ago on . Most recent reply

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60
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Benjamin Dutil
  • Rental Property Investor
  • Windham, ME
22
Votes |
60
Posts

Seller trying to back out after inspections

Benjamin Dutil
  • Rental Property Investor
  • Windham, ME
Posted
Hi BP community. I’m under contract to purchase 2 duplexes. After I had inspections and started the re-negotiations (after the discoveries) the seller wants to back out. I am also a current tenant in the same properties. Big issue is new roofs, plywood included with mold. Second issue is leach fields at the end of their life cycles. What should I do? Please help! Should I continue to try and close? What recourse do I legally have?

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When you chose to make a counter offer you released the seller from the original purchase agreement.

Assuming you have made a counter offer following the inspection this will make the original agreement null and void. The seller has the right to either negotiate or cancel the sale. If they are backing out, which is their right, the only way to possibly save the deal would be for you to try and go back to the original agreement.

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