b'Understanding Repair Limits; What do they mean, how do they function? For example, lets say the contract has a $2,000 repair limit. Will your buyer get stuck with all repairs over $2,000? The answer is Simple; NO! It means that should the home inspection report reveal enough deficiencies that repairs would exceed the repair limit of $2,000, 1 of 3 things can happen: 1. The Seller can chose to have all the repairs made below the repair limit, by an appropriately licensed person(s), in a workman like manner. They will need to provide receipts for all repairs to the buyer(s), prior to closing. This would satisfy the contract & the buyer(s) would still be required to follow the terms of the contract & proceed toward closing.2. The Buyer can choose which repairs to be made up to the repair limit andaccept the remaining items as-is, or accept a credit for the full amount of the repair limit in lieu of repairs and proceed toward closing.3. If either party does not want to pay for the repairs over the repair limit either party can cancel the contract. In this scenario the buyer would retain their full deposit as long as they have upheld all other terms of the contract.srqpr.com 30 941-777-0424'