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Are inspections tied to termination-option periods?

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A toy house and $1 bills on top of a blank contract

04/18/2014 | Author: Editorial Staff

Does a buyer have to complete his inspections during the termination-option period?

No. The right to inspect the property is in Paragraph 7A of the contract and is not contractually tied to the termination option in Paragraph 23. However, most buyers will want to complete their inspections during the termination-option period so they can exercise their right to terminate if they are not satisfied with the condition of the property after receiving the inspector’s report.

The buyer also has a right to re-inspect the property at reasonable times, according to the contract. A seller who refuses to permit inspections at reasonable times would be in breach of the contract.

Get more answers to contract and forms questions on the Legal FAQs page

Categories: Legal
Tags: legal, legal faq, buyers, contracts, inspection, forms

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Legal disclaimer

The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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