First, let me tell you that will need to consult with your Realtor, but generally, yes. If you find something objectionable in the home inspection report and you are still within the time frame for the inspection period then you should be able to get out of your contract to purchase the property and be refunded your earnest money. This is the exact reason we have an inspection period and hire an inspector. It’s also the reason you want to make sure you’re working with a great Realtor. In order for you to get out of the contract due to a bad inspection, your realtor will need to write an inspection objection to the seller’s side and cancel the contract Your Realtor then needs to fill out a request for a refund of the earnest money which all parties need to sign off on. If all parties involved are being responsible and reasonable, this can hopefully happen quickly, but plan that it could take up to a few weeks to get your earnest money back potentially.
