01/06/2020
Let's talk more about hold backs.
A purchaser will be unable negotiate a hold back for a portion of the purchase price on the closing date. For example, suppose that you, as purchaser, are taking possession of your new house today and you find that the dishwasher does not work, the front window is now broken or a giant stain has appeared in the carpet. You assume that these things have happened recently because you didn’t notice them when you were last through the house. Your real estate inspector didn’t make note of those things when he was in the house to prepare his report. What now?
Generally, a purchaser will be unable negotiate a hold back for a portion of the purchase price on the closing date. For example, suppose that you, as purchaser, are taking possession of your new house today and you find that the dishwasher does not work, the front window is now broken or a giant st...