Having said that, my understanding from your conclusions that the purchase and sale agreement signed by both buyer and seller; based upon the buyers acceptance of the property "As Is"; and after his inspector inspected all elements of the house and we signed the inspection resolution; that the purchase and sale agreement is null and void?
Response 1: Not exactly. Purchase and Sale Agreement becomes null and void after the closing except for those provisions which are specifically stated to survive the agreement. This is because the closing of the transaction officially terminates the Purchase and Sale Agreement.
If he decides to sue me anyway for the $ 8,500, I guess I have a good case but would still be out court costs and attorneys fees which would likely rise to the amount of any darn settlement I should go ahead and try to make?? Agree?
Response 2: Agree. However, if you prevail, you go ask the Court assess your Court costs on the Buyer. In any event, you go after the Broker for reimbursement.
Goodluck with your case,
A 5-star rating to my response is appreciated so that I can receive proper credit for responding to your post. Kindly use the popup screen to give the rating. There is no additional cost to you for giving a 5-star rating. . Positive rating is how I get paid for answering questions on the site.
Thank you for your cooperation.