Question: During the ten-inspection period the Buyer
delivered the Buyer’s Inspection Notice and Seller ’s Response
(“BINSR”) to the Seller. This BINSR did not request any repairs,
and did not cancel the Contract. Instead, the BINSR simply requested
that the Seller reduce the purchase price by $5,000 in lieu of
any repairs. If the Seller refuses to reduce the purchase price
by $5,000 is the Buyer entitled to cancel the Contract?
Answer: Answer: No. The Buyer’s request to reduce the
purchase price by $5,000 in lieu of repairs was an offer to amend
the Contract, and the Seller was not required to accept this offer
to amend the Contract. Inasmuch as the Buyer did not timely request
any repairs, did not cancel the Contract, and the Seller did not
accept the Buyer’s offer to amend the Contract, the Buyer is required
to close without any repairs.
