What if you are under contract to purchase the home of your dreams with closing weeks away and the property you are purchasing suffers severe weather damage………..do you have any options? Thankfully, the answer is YES! In the typical Real Estate contract, under the Risk of Loss section, it will tell you that if the total damage is 1.5% or less of the purchase price, the buyer is responsible for the repairs and closing the transaction. If, however, the damage is greater than 1.5%, and the seller does not agree to the repairs, the buyer may cancel the contract and receive their deposit back. Situations such this as are where Professionals like Fay can put your fears at ease and make the process flow smoothly. Call or email me today at 239-273-4006 or [email protected]NaplesNow.com. Fay Mlinarich, PA. Premium Plus Realty C.
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