Will a simple county mix-up make our purchase agreement void?
Yesterday my fiance and I wrote up a purchase agreement with our realtor stating that the property we're making an offer on is located in X county. Hours later, the realtor called us back saying that the property is really listed in Y county, so a septic and well inspection is required, meaning we had to resign a new contract and tear up the old one. Finally, we come to find that we didn't really need to rewrite the second contract at all because inspections are not required on foreclosed homes. Now that I've thought about it, the contract we submitted has one tiny mistake ... the name of the county. Will this make the contract void, or will the bank still consider our offer?
I honestly don't care to have the inspections done, because it makes more trouble for the bank that owns the property. We are up against a cash offer that probably was made by someone who doesn't care what condition the house is in, so how else could we compete with that?
Besides, I could buy a car with the $16,000 I offered, and that car could be a huge p.o.s. The land itself is worth the $16,000 ... so I'm not worried about it.