We put in an offer for a home which was accepted with an inspection contingency; we did this and requested repairs be made and the sellers agreed to do (per our agent); it is now one week before closing and the repairs have not been done and we won’t have time to have a re-inspection or final wald-through before closing – do we have the right to walk away at this point?
A: In Tennessee, if your agent is using the Tennessee Association of REALTORS legal contracts and forms (which most do), you must sign an inspection contingency release form. This would have been done within the inspection contingency section contract on Line 222. There are no verbal agreements.
Also, on the contract, it does specify walkthrough time on Line 254. In 75% of my buyer and seller transactions the repairs are not made the week before either; so, honestly, I wouldn’t freak out. I would schedule my walkthrough 2 or 3 days before closing with the inspector. If the repairs are not made that were agreed to in writing, then I’d get a contract extension signed immediately by everyone.
