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What’s the Follow-Up?

by | Nov 28, 2017 | Goldsmith, James L, Industry News, Real Estate & Land Use

Home Inspection Contingency Periods

By James L. Goldsmith, Esq.

The buyers entered an agreement to purchase a property with an external insulation finish system known as Dryvit. Upon inspection of the Dryvit, the report noted a few areas that were suspect for some moisture infiltration. The buyers decided to submit a corrective proposal asking the sellers to engage a specialist to conduct a “further evaluation” of the Dryvit and to undertake any “necessary repairs.” After being disappointed with specialist’s report of the Dryvit, the buyers decided to terminate the Agreement of Sale outside of the contingency period.