After the home buyer has completed the home inspection with their licensed home inspector, the Inspection Addendum to the Purchase and Sale Agreement gives he buyer a few options. We'll line them out below, and Matthew provides a detailed explanation in the following video.
Here are the available options and possible outcomes to each approach:
- Declare buyer satisfaction.
- Terminate and demand buyer be refunded their earnest money.
- Request seller make modifications to the property or modify the terms of the agreement.
- Notify the seller of additional inspections to come based upon the recommendation of the home inspector.
No matter what you ask of the seller, they do not have the right to terminate your purchase. However, they also have no obligation to negotiate with you or even respond to your requests.