Legal Question in Real Estate Law in Missouri

Real Estate Contract

I am trying to get an inspection on a house that I am interested in. By signing a contract am I obligated to buy this property before I see the inspector's report and do I lose my earnest money? Is there a time frame before cancelling the contract?


Asked on 10/04/06, 12:27 am

1 Answer from Attorneys
Joseph Burcke Joseph R. Burcke, Attorney at Law

Re: Real Estate Contract

A properly written contract will provide for an inspection contingency that will allow you and your chosen inspector(s) or engineers to inspect the premises for defects and flaws. If such flaws are found to exist a provision allows the seller to either cure or cancel the contract, in which case your earnest moneyis returned. If you would like me to represent you in the acquisition of the building, please contact me.

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Answered on 10/04/06, 9:51 am


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