On a Far bar AS IS realtor sales contract
The inspection period ran out and just before it did the buyer's realtor emailed over an addendum with a lower offer claiming "due to inspection issues" , the problem I have is that they never inspected the house and are lying saying they did just because the clock was running out on their 10 days to inspect. They never contacted me to get in the house. I think they are using the contingency as a tactic to lower the price.
Is this Breach of contract? misrepresentation, fraud, not performing or something that I can mention at the mediation over the 5k escrow deposit. I have emails and texts to support their statements.
They also have refused to produce any inspection report, won't even tell me one detail from said inspection (that they never did)
The last cash offer I received from another company at least they did inspect it and then wanted 33k off the price for ridiculous things like repaint inside and out, new roof, new bathrooms , (that one I signed their cancellation , this time I am not signing)
the house was renovated and is move in ready , new floors, kitchen with granite, new paint, new locks, new doors, the bathrooms are outdated but fully function with partial renovations ,
Standard realtor contract page 5 paragraph reads partly:
Property Inspection; Right to cancel
Buyer shall have 10 days after effective date (inspection period) within which to have such inspections of the property performed as Buyer shall desire during the inspection period. If the buyer determines, in Buyers sole discretion, that the Property is not acceptable to Buyer, Buyer may terminate this contract by delivering written notice of such election to the Seller prior to expiration of the inspection period.
attached ate two pages from the contract , please tell me if the inspection contingency paragraph has any teeth in it?
I think its intended meaning is that the house be inspected by someone, its not just "cancel if I change my mind contingency" .
I am going to request a mediation (non binding) but may end up suing in small claims court (for the escrow deposit 5k) , but want to know before hand if I have a tooth to stand on.
I am aware I could end up paying their lawyer fees if I lose in court.
Thanks for any solid feedback on interpreting this paragraph and other relevant words.