Legal Question in Real Estate Law in Ohio

Real Estate Property Dispute

This question is about an issue found in the home inspection regarding the foundation. The purchase agreement states ''buyer entitled to a home inspection that is to buyer's satisfaction.'' There is a large crack in the foundation that I received an estimate for on the day of closing. The seller's apparently agreed on a settlement so I signed the closing documents; however, they said they did not agree to those terms and subsequently did not sign on that date. There was also an addendum drawn up to change some conditions agreed to on the original purchase agreement but I did not sign that addendum. I then found a different property and lost interest in this property due to all the issues with the inspection (foundation being only one) so I told sellers I would not sign the addendum nor any new closing papers. They will not release the $500 earnest deposit and threaten to sue. I was told that since I did not sign the addendum and also since I am not satisfied with the inspection report I should not be at fault. Should I close on the new property I found and try to get the earnest money back or should I give the earnest money to the sellers in hopes that they will sign the release.


Asked on 8/14/07, 5:02 pm

1 Answer from Attorneys
Robert Rosplock Rosplock & Perez

Re: Real Estate Property Dispute

Based on your description of the facts and interpretation of the documents, you are not required to close, HOWEVER, you need to have all the sales documents reviewed by an attorney before taking any further action.

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Answered on 8/14/07, 5:32 pm


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