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Backing Out After a Home Inspection: Everything You Need to Know

An Escondido home inspection is a visual examination of a residential or commercial property that serves to identify any issues the property may have. Unless you have a background in construction, having a first-rate Escondido home inspector on your side is critical when buying or selling a property.

We have previously talked about who fixes what after an inspection and whether a home inspection can be failed. In this article, we’ll explain how and when a seller or buyer can back out of the deal. We’ll also tell you where you can hire the finest home inspectors in California.

Keep reading to learn more.

Can a home seller back out of an accepted offer?

Can a seller back out of a verbal agreementSelling or buying a house or an apartment is no different than selling or buying any other asset that requires legal ownership to be transferred from one party to another. Therefore, until a legally binding agreement has been signed by both the seller and the buyer, neither side is under an obligation to go on with the deal.

However, if such a document exists and has been signed, the seller who decides to back out will incur certain repercussions for breaching the contract. Precisely what happens depends on the specifics of their agreement with the buyer, as well as the local regulations and laws.

How long after a home inspection does the buyer have to back out?

As stated above, unless a valid contract has been signed, there’s no law that determines if and when either party can back out of the deal. As a rule of thumb, the seller should give the buyer a minimum of 5-7 days to decide whether they want to proceed with the deal or not.

The reason for this is that a home inspection can take anywhere from a couple hours to an entire day, depending on the size of the property. It will typically take 24-48 hours before the client receives the home inspection report. Again, this is done on a case-by-case basis, so clients should remember to ask the home inspector about the estimated report completion time. Finally, the inspector will meet their client in person and discuss the report with them.

This means it will realistically take the buyer at least five days before they can receive their report, thoroughly examine it, and go over it with their home inspector. The seller should be patient during this period and refrain from trying to rush the buyer.

Can a seller back out of a verbal agreement?

In theory, a verbal agreement can be just as legally binding as a written one. In practice, however, it’s nearly impossible to prove the exact terms of such a verbal agreement (or that it even existed) in a court of law.

Because of this, it’s best to assume that, until a written contract has been signed by both parties, both the seller and the buyer can back out at any time.

Who supplies a first-rate Escondido home inspection?

Can a home seller back out of an accepted offerAre you a parent looking to purchase a wonderful home near the Escondido High School, and you’d like to make sure it doesn’t have any serious problems before you commit? Or are you the owner of this particular place, and wish to fix any issues it may have before you put it up for sale?

The best way to ensure you know everything there is to know about this property is to have it examined by a highly trained and experienced technician. Inspectors Company is the premier home inspection firm that supplies top-of-the-line home inspections to the good residents of Escondido.

Get in touch with us today if you’d like to hire a home inspector or ask further questions about the home inspection process. We have no doubt we’ll soon become your go-to home inspection company in Escondido. 

At What Point Can a Buyer Back Out After a Home Inspection?

Escondido home inspectors are highly trained technicians who specialize in providing reliable home inspections in Escondido to individuals and organizations who are looking to sell or purchase specific properties. Knowledge is power, and knowing everything about a property will help you make a sound buying or selling decision.

Previously, we wrote about what the seller needs to fix after a home inspection and whether home inspections can kill a deal. Today, we’ll take a look at what happens when a party backs out of a deal after a home inspection, and also tell you who provides dependable home inspection services in Escondido.

Read on to learn more.

Can buyer back out before inspection?

Can buyer back out before inspectionThis depends entirely on whether the buyer and the seller have signed a legally binding agreement. If not, then the buyer can back out whenever they want. However, if such a contract has been signed, then backing out will likely count as a violation of the terms set by the contract, which will result in legal action being taken against the offending party.

That being said, no buyer would ever accept such an agreement before they’ve had the chance to thoroughly inspect the property. It would also be highly unusual for a buyer to hire a home inspector, set the home inspection date, and then suddenly back out.

When a buyer hires a licensed home inspector, as defined by the state of California, it’s typically because they’re seriously considering purchasing the home in question, and they want to make sure it’s a good investment. Backing out before a scheduled inspection takes place would be tantamount to throwing money away.

Can a buyer walk away at closing?

As long as no sales contract has been signed, the buyer is under no legal obligation to proceed with the deal. As a matter of fact, many deals have fallen through at the finish line, often due to unforeseeable complications.

Common reasons deals fail at closing include:

  • An inability to arrive at a mutually satisfactory agreement on what needs to be repaired and who’s responsible for certain repairs.
  • An inability to agree on the price.
  • A personal disagreement between the seller and the buyer may spark an emotional argument that results in neither party wanting to do business with the other.
  • Interference from outside parties such as real estate agents or the members of the seller’s or buyer’s families can cause an otherwise straightforward deal to fall apart.

How long after a home inspection does the buyer have to back out?

How long after a home inspection does the buyer have to back outA buyer will usually receive their home inspection report two days after the inspection takes place. They will then spend some time examining it on their own, before meeting with their home inspector and going through the report with them.

On the whole, this process shouldn’t take longer than a week. Sellers know this, and will wait for the buyer to make their decision. Any seller who tries to pressure a buyer is being rude at best, and trying to swindle them at worst.

The buyer shouldn’t keep the seller waiting too long either. For one, it’s disrespectful. Also, the seller will likely be showing the property to other prospective buyers during the same period, and may end up selling it to someone else. 5-7 days should be ample time for a serious buyer to make a decision.

Who are the top Escondido home inspectors?

Whether you’re selling a house near the Westminster Seminary California, or you’re looking to purchase this same home, knowing everything there is to know about this property is of paramount importance.

At Inspectors Company, we can proudly say we’re the premier provider of top-notch home inspections in Escondido. Give us a call today and have your inspection conducted by the finest professionals in California.