Question 1

Do I have to give a reason to cancel under the inspection contingency?

Accepted Answer

Many contingencies let you cancel if you’re not satisfied with the inspection, but read your contract’s exact wording.

Question 2

Can the seller keep my earnest money?

Accepted Answer

If you cancel properly within a contingency, usually not. Disputes may go through the escrow holder or court.

Question 3

Can I back out of buying a house after the inspection?

Accepted Answer

Usually, if your contract has an inspection contingency and you cancel in writing before its deadline.

Question 4

What is an inspection contingency?

Accepted Answer

A contract term that lets the buyer inspect the home and request repairs or cancel within a set period.

Question 5

Will I lose my earnest money if I back out?

Accepted Answer

Usually not if you cancel properly within a contingency. After deadlines pass, you may lose it.

Question 6

How long is the inspection period?

Accepted Answer

Often about 7 to 14 days, but it’s set by your contract.

Question 7

What can I ask for after a home inspection?

Accepted Answer

Repairs, a credit at closing, or a lower price. The seller can agree, counter or refuse.

Question 8

What if the seller refuses to make repairs?

Accepted Answer

You can accept the home as is, negotiate further, or cancel within your inspection period.

Common questions: Backing out after inspection