contracts

BINSR (Buyer's Inspection Notice and Seller's Response)

The form under the AAR Residential Resale Real Estate Purchase Contract that a buyer delivers before the Inspection Period ends, defaulting to 10 days after acceptance, either cancelling or listing items the buyer wants corrected. The seller responds within five days. If the seller does not agree to everything, the buyer elects to accept the response or cancel with earnest money returned. Separately, a Cure Period notice gives a breaching party three days to cure; an unfulfilled contingency is not a breach.