If I want to purchase a house, am I correct with not allowing the seller’s attorney to inspect our house before the formal offer is accepted?
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If I want to purchase a house, am I correct with not allowing the seller’s attorney to inspect our house before the formal offer is accepted?
We have been wanting to purchase our neighbor’s house. It is a second home for them. It has been on the market for 4 years and we offered them a much lower offer then they were asking a couple of years ago $425,000 vs asking price of $550,000. They are now ready to accept our offer but mentioned that their lawyer would like to look over our house. I do not feel comfortable with this and feel a formal home inspection is better. We will also be bring in a real estate agent to provide advice on what we need to invest in the house to sell our house quickly
selling our our is a contingency for purchasing our neighbor’s house. I am sure their attorney wants to make sure our house is going to sell quickly. We are willing to invest in our current house to help it sell quickly.
Asked on April 18, 2016 under Real Estate Law, Vermont
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
There is no "correct" or "incorrect" in this case, since the law neither requires nor prohibits this. It is whatever the buyer and seller agree to. If there is already a signed contract, they can't add this as a requirement if it's not already in the contract--they can ask, of course, but if it's not in the contract, you don't have to do it. But if there is no signed contract, which appears to be the case from your question, they can say they will not agree to sell to you unless you agree to let them inspect; then it's up to you whether you are willing to do this or not. You could walk away from the proposed transaction if you are not willing to let them inspect.
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