No. of Recommendations: 2
The sellers counter offered, offering to fix the issues themselves and let us have another inspection.

IIRC, there was a lot of home-grown electrical wiring done and it was unsafe...I think you are justified in insisting upon a licensed electrician doing the repairs.

What happens if they refuse to sign the release? Can they say that they were willing to work through all of the inspection isssues, but unable to move the date and keep the earnest money?

This depends on what the contract actually says.

The most common inspection contingency says that the deal is contingent upon the buyer obtaining a satisfactory (to the buyer) inspection report, and if that does not occur, the seller has to return the earnest money. But your contract might read differently.

However, if they want to move quickly and have another offer, I bet they don't want to delay things by haggling over your earnest money.

Can we just refuse to sign anything, therefore not coming to an agreement within the five days, and walk?

Again, it depends on what is actually in your contract. But to be safe, I think you need to do all of this in writing.

If we approach them in this way is there any chance that we would forfiet the earnest money.

All together now..."it depends on what is in your contract." However, if you can't agree on the disposition of the earnest money, you'll probably end up in court. But, as I say, if they have another seller, the last thing they want is a pending lawsuit.

Good Luck,
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