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Inspections and Offer Acceptance

Hello,

Our offer was accepted on a house. Not sure what I am supposed to be receiving to show it was accepted. I just have the word of my Realtor. Is there something I should be receiving?

Also, we submitted our offer contingent on the sellers performing well and septic inspections and we would do the home and pest inspections. They signed that and now they are saying they aren't going to do the septic. That they "don't want to spend any more money on this sale.". It is an estate being sold by several family members.

What are our rights here in regards to he costly septic inspection that my lender will surely want done?

What am I supposed to receive letting me know my offer has been formally accepted?

When does the listing status change?

Thanks, L
  • June 23 2014 - US
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Answers (3)

It all comes down to what is in writing and signed by both parties. Ask your agent for your copy of the sales contract and all other paperwork once it is "fully executed" (signed by all parties).
  • June 23 2014
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I had a very similar experience with a client of mine who asked to have the seller service the pool heater by a licensed vendor. We wrote it in the contract and the seller agreed to it. Five days before closing i asked to have all of the receipts including the receipt of the pool heater that was serviced and the sellers came back and refused to service the pool heater. Due to the contract being signed by both parties and the seller accepting the terms, they ended up paying for the pool heater to be serviced on top of litigation charges.
Your realtor should have sent you a copy of the executed contract "the contract with both the buyers and seller signatures on it" the day it was signed. It is also buyers responsibility to make sure that everything that was asked of the seller is in the contract because there is a good chance that your realtor forgot to mention it in the contract for the seller to pay for septic inspection.
The listing status should change to UCB once the contract is signed by both parties and then change to pending once inspection is done and bank loans are approved.
Hope this helps and good luck!
  • June 23 2014
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These are all questions you should be asking your Realtor. Typically, you should receive a copy of the fully executed contract - which is when all parties have signed off on it. If is't only verbally agreed to, you do not have a contract. Once you get a copy, read it to see what was really agreed to and then sit down with your Realtor to see how to proceed.
  • June 23 2014
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