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Personal Finances / Buying or Selling a Home


Subject:  Re: Landfill < 1 mile away? Date:  4/7/2013  4:44 PM
Author:  inparadise Number:  125063 of 129273

Only an accepted offer, with all contingencies fulfilled or waived, is considered a bona fide contract.

I have been surprised at how much each state can vary in real estate law, but almost all contracts I have signed state that if you don't do what is needed for a contingency such as inspection within so many days, it is the same as waiving your right. If he does nothing, he is likely to lose the home inspection contingency. If this is a contractor/new construction, I would be stunned if that were not the case. In fact his inspection contingency could severely limit his options to getting things fixed by the builder rather than being able to back out.

preferring not to do new construction for so many reasons
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