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If the purchase contract states that the buyer can cancel the contract if the seller fails to repair all of the requested items, does that mean that the buyer can legally cancel over minor problems that the seller refuses to repair? The contract does not state any specific dollar amounts for repairs. Also, if the seller chooses to instead reduce the purchase price instead of repairing the items, can the buyer still cancel since the contract specifically mentions "repair" and the buyer may not be able to afford to do the repairs even with the purchase price reduced?
First, no one is going to give you legal advice. Second, you don't even state what state you're in for anyone to be able to give you any local custom information. Third, if you need your contract interpreted, you need to speak with an attorney.
If the purchase contract states that the buyer can cancel the contract if the seller fails to
repair all of the requested items...
It won't say that and certainly not with that sort of phrasing.
It will say that the buyer can request a repair (or a long list of them)
and that the the seller can refuse to do a repair (or any part of a list).
The rest is negotiated with the understanding that the buyer can back out
(inspection contingency) or the seller can adjust the price if they choose to.
If the "repair" is actually something substantial or a real defect (very few are)...
then you can quickly get into the area of appraisal values. A different set of issues.
boils down to how your contract and addendum is written.
in my area, the repair addendum would be written up clearly (hopefully ) enough that there is no gray area. the repairs requested could be big or small.. if the seller says no, or counters in anyway, or offers a $$ credit in lieu of the repairs, it falls back to the buyers to agree to this counter. if the buyer says no to this counter, and the seller doesn't agree to the initial repair requests, the contract could be terminated.
if the buyer agrees to whatever the seller countered back with, everyone signs off and the purchase moves forward.
boils down to how your contract and addendum is written.
in my area, the repair addendum would be written up clearly (hopefully ) enough that there is no gray area. the repairs requested could be big or small.. if the seller says no, or counters in anyway, or offers a $$ credit in lieu of the repairs, it falls back to the buyers to agree to this counter. if the buyer says no to this counter, and the seller doesn't agree to the initial repair requests, the contract could be terminated.
if the buyer agrees to whatever the seller countered back with, everyone signs off and the purchase moves forward.
A buyer can ask for anything. A seller is free to refuse any or all of whatever the buyer asks for.
As Mr Rational pointed out, very few "repairs" requested by the buyer are substantial or related to health or safety.
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) enough that there is no gray area. the repairs requested could be big or small.. if the seller says no, or counters in anyway, or offers a $$ credit in lieu of the repairs, it falls back to the buyers to agree to this counter. if the buyer says no to this counter, and the seller doesn't agree to the initial repair requests, the contract could be terminated.
