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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 54988
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I have a contract to sell my St Louis county Missouri house.

Customer Question

I have a contract to sell my St Louis county Missouri house. We are in the inspection period and I received two notices at the same time from the buyer. The first, labelled "A" by the Buyer, has a list of things and he checked the box (A3) on the Inspection Noytice form requesting satisfaction of the following (the list) and/or monetary settlement. On the second Inspection Notice, the buyer checked the box (A2) which states lBuyer is terminating the contract, with earnest money to be returned to Buyer subject to paragraph 12. However, he included a list of requested items and actions. Can I use the second Inspection Notice as a means to cancel the contract?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.
Hi! My name is ***** ***** I look forward to helping you!
Yes, you have every right to rely on the second inspection notice from buyer terminating the contract. Once terminated, the buyer does not then have the right to change the buyer's mind and rescind the termination. As seller, you simply need to send the buyer an acknowledgment of the termination and, if you hold the earnest money, include the refund of the earnest money, and if the title company holds the earnest money, copy the title company on the acknowledgment of the termination and instruct the title company to release the earnest money to the buyer.
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