Can You Nullify the Contract After Home Inspection?

A caller who had gone under contract for a home and had a home inspection come back asked Robert Palmer if he could nullify the contract.

It really depends on how the contract is written. The standard Florida Association of Realitors and Florida Bar Association contact, FAR/BAR, allows for an inspection period. Therefore, if you complete the home inspection within the allowed inspection period you can cancel the transaction based on the results of the home inspection. If the contract wasnâ??t written correctly, or if you waited until after the inspection period to get the inspection done, then you may be stuck and you could end up forfeiting the earnest money deposit to cancel the contract.

RP Funding is looking into putting together an affordable program with local attorneys to protect against the above situation.