A: No, the buyer only has the opportunity to provide a single notice with the BINSR. Once it has been delivered to the other party it cannot be rescinded. If the seller does not agree to correct all the items disapproved, then the seller will have the option to cancel the contract at that point.
A buyer submitted the Buyer’s Inspection Notice and Seller’s Response (BINSR) to the seller on day 7 of a 10-day inspection period asking for the seller to correct several items. The next day the buyer decided that they wanted to cancel instead. Can the buyer rescind their original BINSR and send over a cancellation since they still have additional days left in their inspection period?
by David Dynes | Jan 5, 2021