Posted on: 26th Aug, 2012 11:14 am
Can a buyer back out of a purchase of a home if the inspection was clear and appraisel. The need of flood insurace came up after the fact. He agreeded to some flood insurance. We finally got a low risk flood quote after getting a second flood cert done. (Under 400 per year) We even said we would file for a LOMA and pay for any insurance(Flood) until cleared. Fema verified with above Base Flood Numbers on our lot we would get a LOMA granted. It was a matter of submitting it. The buyer still wants to walk. Can he walk?
Hi Ramona,
If the buyer has not signed any final agreement with you, then he/she can walk away from the deal without any penalty. You may not be able to take any steps against the buyer.
If the buyer has not signed any final agreement with you, then he/she can walk away from the deal without any penalty. You may not be able to take any steps against the buyer.
Hello Ramona,
If the property is not disposed within a specified period of time, the buyer can be relieved of the contract.
:idea:
If the property is not disposed within a specified period of time, the buyer can be relieved of the contract.
:idea:
