Are inspections tied to termination-option periods?
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.
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