Buying A Home
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Getting out of buying a home question
We recently put an offer in on a house contingent of inspection report. The inspection report came back with issues. We asked for things to be fixed and the seller isn't fixing everything we asked for. Can we decide to not buy the house at this point? I feel that without all the repairs we will just be buying a Money Pitt. Help!!! Thanks
Re: Getting out of buying a home question
My Blog:Through My Eyes
Did you come to an agreement on exactly what the seller would fix? Or you asked for certain things and they declined?
If it is the first and you have a written contract that specifies what must be fixed and they seller does not do it they are in breach of contract.
If it is the second you have to decide if what they have agreed to is enough for you, or if you want to walk away. Your contract should have very specific timeframes in which all of this is to happen.
Keep in mind an inspection isn't meant to be a to-do list for sellers. It's meant to highlight potential problems. IMHO, you should prioritize what's most important to have the sellers do.
Also, keep in mind that pretty much every home will need something done to it.