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Updated over 6 years ago,

User Stats

282
Posts
117
Votes
Andrew S.
  • Rental Property Investor
  • Helena, MT
117
Votes |
282
Posts

Last minute incorrect inspection contingency

Andrew S.
  • Rental Property Investor
  • Helena, MT
Posted

I'm working on a duplex from the MLS under contract and have a couple items that I worked with my realtor on for the inspection contingency. The property is a fixer upper so I'm focusing on larger items that were identified during my home inspection. My realtor missed a couple items on the inspection contingency form and during my review I requested some changes and an additional $1000 off the purchase price. My realtor sent over the inspection contingency form without the updates 1 minute before the inspection contingency deadline and called me to approve it. Being rushed I just electronically signed the form, sent it over, and then after the fact re-read the inspection and noticed the updates weren't made and the additional $1000 wasn't included. I called my realtor to ask about why the updates weren't made and he said he'd send an updated one in the morning. He then called the next day and said the seller has accepted our inspection contingency, and couldn't send an updated one.

Just curious on thoughts how I should handle the situation.  If I should just "eat" the $1000 or if I should work with my realtor to get $1000 from the seller and/ or realtor?  I was talking with my realtor for 2-6 hours before the deadline to send over the updates but he was busy.  I'm a new investor and trying to build relationships in my area but trying not to get taken advantage of.

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