In the state MO the congt waiver of financing seems to be some what pointless untill pass the inspection phase.
How does your contract work in your state with this clause? In MO a buyer could waive when then contg is called and proceed to the inspection part, and move forward, but still has all the rights to terminate uner the inspection par and need realy no just reason only get and pay for one imspection and provide to the seller that copy. I have only realy had this happen once but now has made me rethink why we even have this form of waiver.
This is what happen,,,,,,, property went under congt contract, another contract came 2weeks later seller called congt.(72hr kick out) buyer waived and proceeded forward, with inspections (10days) They waited untill the very last day down to the minute on each time frame and then termainated because the buyers house did not go under contract. They provided the seller with their inspection report and walked away . There is no protection for sellers.
The inspection realy had no problems nothing that could not have been worked out, minor repairs. The Buyers agent was called out on it, and did submitt a notice again for way out of the ball park if your going to give it to me I'll by notice, of cousre sellers refused. end of story.
The home did go under contract the next week, and sold but the frustration that everyone had to go through was just so avoidable. Not to mention the second buyers where so disappointed because they realy wanted that house , but had to be moved in by a certain date and could not waite around. Everyone seems to of lost something over that other agents lack of proffessionalism & those buyers wishfull thinking!