The buyer and seller entered into the Arizona REALTORS® Residential Resale Real Estate Purchase Contract. After conducting a home inspection, the buyer requested that seven (7) different items be repaired by way of the Buyer’s Inspection Notice and Seller’s Response (BINSR). The seller refused to correct the items disapproved. As a result, the buyer timely canceled. Upon receipt of the cancellation, the listing agent sent an e-mail to the buyer’s agent challenging the cancellation and telling the buyer’s agent that if it was “really that important,” that the seller would make the requested repairs. The listing agent insists the contract is still enforceable.
Did the buyer validly cancel the Contract?
Section 6j of the Contract provides the buyer with the right to cancel the Contract if the seller refuses to make the repairs requested in the BINSR. The buyer, therefore, validly canceled the Contract and is entitled to the return of the earnest money deposit.