--URGENT-- Owner refusing the insoection

[Abdessettar Ibourki]

Hello there,

My real estate agent arranged for inspection (for my first 4-units) this coming Thursday.

He called me this afternoon to inform me that the listing agent refused the inspection as it passed 15 days from signing the sale contract.

When I asked my agent about the reasons he stated that may be he doesn't want to do the repairs, as my loan is a residential HUD loan. According to my lender the building has to meet certain standards for the loan to pass.

Also I already handed them the Earnest check.

The building is in decent shape but needs some cosmetic touchups. However when the listing agent refused the inspection, that made me wonder about what they're hiding.

Any Suggestions of how to handle this situation.

Thanks.

[Charlie MacPherson]

@Abdessettar Ibourki  Based on what you've said, I'm assuming that you are beyond the deadline for inspections that was specified in your offer.  If that's true, I don't blame the seller at all.  

Presumably, you had a chance to do your inspection and let the time period expire.  You don't get to renegotiate the terms now.

You can no longer use the inspection to ask for price reductions, repairs or as a reason to get out of the contract - and if I were the seller's agent, I'd make sure that was enforced.

Depending on how your contract was written, you may only be able to get out of the contract if your financing or appraisal fails. Aside of that, you may lose your EMD.

It may not be so much about hiding defects as it is about enforcing the contract to the benefit of the seller - which, after all, is the job of every seller's agent.