I have a question regarding a sales contract. The contract in question is the standard Purchase and Sales Agreement from the NE Florida Association
of Realtors. After the home inspection
the buyer has sent me a Repair/Replacement/Treatment Agreement asking for a $3,000 credit at closing.
Lines 328-336 of the original contract state:
If BUYER determines, in BUYER'S sole discretion, that the property is not acceptable to BUYER, BUYER may prior to the expiration of the inspection period:
- terminate this Agreement by delivering written notice of such election to SELLER together with a copy of all written reports of inspections;
- submit BUYER'S written request to SELLER for repairs/replacements/treatments, if any, together with a copy of all written reports of inspections. BUYER and SELLER shall have 5 days from SELLER'S receipt of such request within which to enter into a written agreement for repairs/replacements/treatments, failing which this Agreement shall be deemed terminated."
The fact that the seller has sent a repair request would seem to indicate that the property is not acceptable to them. If I simply ignore the request then at the end of 5 days no written agreement will exist. Would that mean that the Agreement (sales contract) is deemed terminated ?
When I told the buyer's agent that I was not prepared to pay any amount towards repairs she stated "Then put zero, sign, and send back. This will keep us in contract." This would suggest that she recognizes that once the buyer submits a signed repair request that a written agreement has to be reached otherwise the sales contract is terminated. Do you think that is the case?