contract contingencies

What is the name of your state? Ohio

We have recently received contract to purchase on our home. The offer was contingent on inspection of property. That has been done and the buyers' response to inspection was to fix a leak that was noted (we were planning to have fixed as soon as it was noted). Also want us to find out if pipes into house are Polybutelene pipes. They also want us to credit them $500 for repair of cosmetic problem w/ kitchen floor. I found out today that the pipes from the water meter to the house is in fact, the polybutelene...but the same plumber looked at the meter and said that there were no active problems w/ the line and we will not replace pipes even if requested by buyer. In regards to kitchen floor issue, we do not plan to give them anything towards a new floor since this is ONLY cosmetic. My question is this....can the buyers just choose to abandon contract because of either of those issues?? If they want out of the contract, can we demand earnest money and/or specific performance?

[HomeGuru]

Originally posted by khauser
What is the name of your state? Ohio

We have recently received contract to purchase on our home. The offer was contingent on inspection of property. That has been done and the buyers' response to inspection was to fix a leak that was noted (we were planning to have fixed as soon as it was noted). Also want us to find out if pipes into house are Polybutelene pipes. They also want us to credit them $500 for repair of cosmetic problem w/ kitchen floor. I found out today that the pipes from the water meter to the house is in fact, the polybutelene...but the same plumber looked at the meter and said that there were no active problems w/ the line and we will not replace pipes even if requested by buyer. In regards to kitchen floor issue, we do not plan to give them anything towards a new floor since this is ONLY cosmetic. My question is this....can the buyers just choose to abandon contract because of either of those issues?? If they want out of the contract, can we demand earnest money and/or specific performance?

**A: it depends on how the home inspection contingency clause was written.
Post that section word for word from the contract. Not your interpretation.