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Marsha411JD, Lawyer
Category: Real Estate Law
Satisfied Customers: 20227
Experience:  Licensed Attorney with 29 yrs. experience with Real Estate
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We had an offer for condo. In ny. But we dont have final

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We had an offer for condo. In ny. But we don't have final inspection since renovation was done 4 years ago. Contractor left a lot of problem. My Q is ;

When buyer find problem, do we have to fix it?
After signed contact with buyer, still our problem?

Thank you for the information and your question. Unless you agreed in the contract to make repairs up to a certain dollar amount, then generally you are selling the property "as is." That means that if the buyer finds problems during the inspection period and comes to you and asks you to have them repaired or reduce the selling price, you can say no. However, unless there is a clause that says they cannot cancel the agreement unless there is XX amount of damage or more, then they can then back out of the contract. In other words, if they find something they don't like in the inspection, they can cancel, unless the contract says differently.

Please let me know if you need any clarification. I would be glad to assist you further if I can.
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