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44 Buyer Outs #13 – When Disaster Strikes After Contract Signing
by Sandra Nichols
If the property is damaged after the contract starts, the buyer has the right to cancel, delay closing, or accept the damage with insurance compensation.
Related Articles 44 Buyer Outs | Sellers Beware! 44 Buyer Outs #15 – How Conventional Loan Buyers Can Back Out After a Low Appraisal With a large down payment, buyers can terminate the contract if the property doesn’t appraise-depending on the appraisal waiver terms they choose. 44 Buyer Outs | Sellers Beware! 44 Buyer Outs #14 – What Happens If the Seller Isn’t Honest? 44 Buyer Outs #14 – What Happens If the Seller Isn’t Honest? by Sandra Nichols If the seller misrepresents the property, the buyer can cancel the contract and get earnest money back-or sue to force the seller to fix the issue. Related Articles 44 Buyer Outs | Sellers Beware! 44 Buyer Outs #15 […] 44 Buyer Outs | Sellers Beware! 44 Buyer Outs #12 – FHA, VA & VLB Rules Limit What Buyers Can Pay Buyers using VA, FHA, or VLB loans can cancel if charged a fee they’re not allowed to pay. If it’s not in the contract and not approved, they’re protected. 44 Buyer Outs | Sellers Beware! 44 Buyer Outs #11 – Special vs. General Warranty Deed Explained If the seller doesn’t deliver a general warranty deed as agreed, the buyer can cancel the contract and get their earnest money back. 44 Buyer Outs | Sellers Beware! 44 Buyer Outs #9 – Walk Away If Major Repairs Raise Red Flags If lender-required repairs exceed 5% of the sales price, buyers can cancel the contract-even if the seller agrees to pay for the work.
