Real Estate Law
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Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.
Do they have the unilateral right to terminate the contract and walk away based on the inspection report if they don't like the results?
Ok, then to be honest, they are kind of holding the cards here because if you don't agree, then they can simply terminate the contract, walk, and get their deposit money back.
So once you agreed to extend the closing, then the negotiations start regarding any repairs or issues that might have arisen..
With that said, you have to determine whether to accommodate them or to stick to your guns and be prepared for them to walk and start over with a new buyer..
As an aside, in addition to being an attorney, I have also been a licensed Realtor for over 12 years...