No, the inspection contingency puts all the decision-making in the hands of the buyer. The buyer has basically three options following the inspection…
- Move forward with everything as is
- Cancel the purchase agreement
- Try to negotiate repairs and/or a price reduction or seller contribution to buyer closing costs to offset the cost of repairs
The seller can refuse to sign an amendment for repairs or a price reduction, but has no right to cancel. If the seller refuses to sign or negotiate the amendment, only the buyer can make the decision whether to proceed without the amendment or cancel the agreement. If the buyer submits a cancellation during the inspection contingency period the seller is obligated to sign it.
Source: Minnesota Realtors Legal Hotline
