Can a Home Buyer Terminate on Closing Day?Posted by Hank Miller on
It’s closing day and the buyers walk the home before heading to the attorney’s office. But not all is right when the door swings open. What happens if the seller didn’t make the agreed upon repairs? What happens if the HVAC isn’t working? Can a home buyer terminate on closing day because of condition and refuse to close? Maybe. The most common problems are changes in the home from contract to close and agreed upon repairs.
Substantially the Same
The GA Association of Realtors (GAR) contract stipulates that the property will be in substantially the same condition as it was on binding agreement date. Briefly: “Seller warrants that at the time of closing, the Property and all items remaining with the Property, if any, will be in substantially the…
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