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Updated over 3 years ago on . Most recent reply

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Tolun Ozarslan
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Can seller terminate contract due to environmental defects in IL?

Tolun Ozarslan
Posted

Can the seller terminate contract due to environmental defects in ILLINOIS?

Following a mold inspection, we (buyers) found out that there is mold in the house. After we gave our Inspection Response, the seller;

- first, refused to negotiate

-Then, they sent us a message saying that they are terminating the contract based on the following:
"244 environmental repair(s)at Closing. In the event either Seller or Buyer elects to terminate the
245 Contract due to an environmental defect as provided herein, the non-terminating Party shall
246 be obligated to sign the document terminating this Contract, and the Earnest Money shall be
247 refunded to Buyer. "

Can the seller do that? We have until 9/10 to negotiate. Is it legal? 

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Bill B.#1 Real Estate Deal Analysis & Advice Contributor
  • Investor
  • Las Vegas, NV
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Bill B.#1 Real Estate Deal Analysis & Advice Contributor
  • Investor
  • Las Vegas, NV
Replied

It shouldn’t matter. You didn’t want the house with mold at the current price and the seller doesn’t want to sell at a lower price. Win win. You both walk away. 

If you changed your mind and decided the house was still a good deal have your realtor talk to theirs. Have him say you’re sorry if you offended the seller and say you agree to waive all your contingencies and would like to proceed including putting your earnest deposit at risk.

Otherwise call it a win you escaped the deal at no cost. 

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