The BINSR document is used to request corrections when all inspections and investigations have been completed to the property. The Buyer has 3 options (i) Accept premises without corrections; (ii) Reject premises; or (iii) Elect to provide the seller an opportunity to correct disapproved items.
Within the inspection period, the Buyer delivers to the seller a Residential Buyer’s Inspection Notice and Seller’s Response (BINSR) requesting items to be repaired that relate to the property. The BINSR provides the Seller with the following options: (i) seller agrees to correct the items disapproved; (ii) seller is unable to correct any of the items; or (iii) seller’s response to the buyer’s notice, which includes blank lines for a response. The third option is included, so that Seller may elect to correct some of Buyer’s listed items and decline to correct others. This seller’s response shall be within 5 days of delivery of the Buyer’s request. The Contract also provides that the Seller’s failure to respond to the Buyer’s request for repairs within five days is conclusively deemed to be the Seller’s refusal to correct any of the items disapproved. The Seller has no ability to cancel the contract based on the BINSR items requested.
Buyer may cancel this contract within five (5) days after delivery of Seller’s response or after expiration of the time for Seller’s response, whichever occurs first if the Seller does not agree to correct all items disapproved or agree to close escrow without correction of those items the Seller has not agreed to in writing to correct.
The BINSR is used to notify the seller of disapproved items that the Buyer would like repaired, and is not the proper forum to amend the terms of the underlining purchase contract. Improper requests and responses with “credit in lieu of repairs, change of sales price, repairs to be done by contractors/handyman, etc.. Are modifications to the terms of the purchase contract should be made in the form of an addendum signed by both parties. Also, requests to investigate further or determine the cause are the responsibility of the buyers in their discovery period with repairs to be made by the HOA or the neighbors is an incorrect use of the form as well. The improper use of the BINSR form should be returned to the sender to correct and resubmit within the original timelines on the contract.
Although the property is being sold AS-IS through terms of the purchase contract. The BINSR allows the Buyer an opportunity to request some must-have repairs taken care of for peace of mind. And Sellers have a Buyer who is invested in the purchase with time and effort learning about the purchase they are entering.