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how often do people back out of home purchase bc of inspection?

is it more likely that they just want to renegotiate price?
sepia site
  11/25/22
...
sepia site
  11/25/22
Three times for me
startled judgmental old irish cottage
  11/25/22
are you buyer or seller?
sepia site
  11/25/22
Both. I buy houses and contract with myself and cancel
startled judgmental old irish cottage
  11/25/22
...
navy marvelous jew office
  11/25/22
Same REALTOR(R) repping both sides of the transaction?
exhilarant philosopher-king chapel
  11/25/22
Yup ding ding ding
startled judgmental old irish cottage
  11/25/22
Are you the REALTOR(🍆) as well?
supple son of senegal indian lodge
  11/25/22
...
Out-of-control Curious Pervert
  11/25/22
...
Greedy set really tough guy
  11/25/22
Pretty rare IME an under-contract buyer will back out on the...
exhilarant philosopher-king chapel
  11/25/22
i'm selling a remote cabin and the inspection period ends in...
sepia site
  11/25/22
Basically yes, though the actual “sale price” wi...
exhilarant philosopher-king chapel
  11/25/22
buyers haven't ever visited. i haven't been there in > a ...
sepia site
  11/25/22
Hmm, well I guess those details make it more likely than in ...
exhilarant philosopher-king chapel
  11/25/22
i'd much rather give buyers 20k, or whatever, than have it g...
sepia site
  11/25/22
Yeah so you’re the cucky one in this situation, probab...
exhilarant philosopher-king chapel
  11/25/22
nope, i can't get out there before inspection period closes....
sepia site
  11/25/22
IMO it's pretty strange that the buyers haven't visited. I c...
Multi-colored Dog Poop
  11/25/22
it's worth whatever a buyer's willing to pay for it, right? ...
sepia site
  11/25/22
Yeah that sort of off the grid thing can be a pretty big ste...
Multi-colored Dog Poop
  11/25/22
i think this is a vacation home sort of thing
sepia site
  11/25/22
This sounds like a very rare case where you would have great...
supple son of senegal indian lodge
  11/25/22
i've got a (R)ealtor. what should he have done before we acc...
sepia site
  11/25/22
Jfc, not even sure where to start other than making sure you...
supple son of senegal indian lodge
  11/25/22
fwiw this is very remote. not on roads. only accessible by p...
sepia site
  11/25/22
Well the ball is in the buyer’s court now and your ass...
supple son of senegal indian lodge
  11/25/22
would it be fair to knock off whatever's needed from the fin...
sepia site
  11/25/22
Idk honestly. I wouldn’t jump the gun on anything at t...
supple son of senegal indian lodge
  11/25/22
i haven't
sepia site
  11/25/22
Do that next. What exactly has been this person’s valu...
supple son of senegal indian lodge
  11/25/22
If you haven’t been there in over a year, and it sound...
Tripping Bespoke Generalized Bond Mad-dog Skullcap
  11/25/22
photos I took last year
sepia site
  11/26/22
Is OP Johnsmeyer?
silver messiness
  11/26/22
...
sepia site
  11/26/22
...
sepia site
  11/27/22
...
sepia site
  11/28/22


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Reply Favorite

Date: November 25th, 2022 6:04 PM
Author: sepia site

is it more likely that they just want to renegotiate price?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544404)



Reply Favorite

Date: November 25th, 2022 6:33 PM
Author: sepia site



(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544490)



Reply Favorite

Date: November 25th, 2022 6:38 PM
Author: startled judgmental old irish cottage

Three times for me

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544498)



Reply Favorite

Date: November 25th, 2022 6:40 PM
Author: sepia site

are you buyer or seller?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544505)



Reply Favorite

Date: November 25th, 2022 7:02 PM
Author: startled judgmental old irish cottage

Both. I buy houses and contract with myself and cancel

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544552)



Reply Favorite

Date: November 25th, 2022 7:05 PM
Author: navy marvelous jew office



(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544557)



Reply Favorite

Date: November 25th, 2022 7:06 PM
Author: exhilarant philosopher-king chapel

Same REALTOR(R) repping both sides of the transaction?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544562)



Reply Favorite

Date: November 25th, 2022 7:13 PM
Author: startled judgmental old irish cottage

Yup ding ding ding

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544575)



Reply Favorite

Date: November 25th, 2022 8:40 PM
Author: supple son of senegal indian lodge

Are you the REALTOR(🍆) as well?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544763)



Reply Favorite

Date: November 25th, 2022 7:21 PM
Author: Out-of-control Curious Pervert



(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544589)



Reply Favorite

Date: November 25th, 2022 8:20 PM
Author: Greedy set really tough guy



(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544712)



Reply Favorite

Date: November 25th, 2022 6:48 PM
Author: exhilarant philosopher-king chapel

Pretty rare IME an under-contract buyer will back out on the spot based on something in the inspection.

More likely they’ll ask for some amount of money back from the seller based on their belief about what repairs or w/e will cost them. (This is nominally different from “renegotiating the price” btw though functionally its the same thing.)

In response seller will either refuse outright or counteroffer a lower number, at which point the deal can go either way based mainly on how cucky/desperate the buyer is.



(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544519)



Reply Favorite

Date: November 25th, 2022 7:00 PM
Author: sepia site

i'm selling a remote cabin and the inspection period ends in a couple weeks. i'm nervous that buyer will find something they don't like and walk away. i'm nervous that back up offer will then be anxious / spooked bc first choice buyer walked away.

you're saying it's more likely that buyers will say, e.g., "siding needs repairs and those will cost 10k, so knock 10k off the price"?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544546)



Reply Favorite

Date: November 25th, 2022 7:05 PM
Author: exhilarant philosopher-king chapel

Basically yes, though the actual “sale price” will remain the same but then after the transaction is complete and closed you’d give them $10K (or whatever amount it ends up being) as a totally separate transaction.

Again, highly unlikely they’ll walk away on the spot post-inspection unless there’s like a giant hole in the middle of the floor (or something similarly bad) you’ve managed to hide from them so far.

You might just need to be ready to give them what they ask for in cash back, definitely possible they will walk if you fight tooth and nail over what will probably be a few thousand bucks at that point.

And yes your instinct is right, it is a bad look (and a matter of public record) for you/the house to have a buyer walk after going under contract.

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544558)



Reply Favorite

Date: November 25th, 2022 7:08 PM
Author: sepia site

buyers haven't ever visited. i haven't been there in > a year. so who knows what's going on there. that adds to my nervousness.

given that, i'm ready to negotiate on cutting some cash off the deal. already gave them a SWeet seller-financed deal (5% interest).

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544565)



Reply Favorite

Date: November 25th, 2022 7:18 PM
Author: exhilarant philosopher-king chapel

Hmm, well I guess those details make it more likely than in a typical homebuying transaction that there could be some major problem that they (or you) didn’t know about until the inspection.

Still pretty unlikely though IMO. If that happens and causes the deal to fall through:

a) you’re a moron for not at least checking the place out (and/or or better yet getting your own inspection done by someone local, which you still might want to do if you have time) before listing it if you really haven’t seen it in a year

b) you’ll have a better excuse/explanation than most sellers who lose a buyer due to inspection issues, especially if you can get whatever issues fixed for the next buyer or whoever. (Just say you hadnt been there in a year but now you have and everything is ship shape and here are the receipts.)



(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544583)



Reply Favorite

Date: November 25th, 2022 7:20 PM
Author: sepia site

i'd much rather give buyers 20k, or whatever, than have it go back on market. given their high-dollar cash down payment (doubled it after there were multiple offers), i hope they stay serious, if there are real issues, if we give 'em some cash back.

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544586)



Reply Favorite

Date: November 25th, 2022 7:31 PM
Author: exhilarant philosopher-king chapel

Yeah so you’re the cucky one in this situation, probably should just agree to give them what they want in cash back or whatever after the inspection.

Again it’s rare (tbh i’ve never heard of it happening once) that a buyer just walks immediately based on an inspection without giving the seller a chance to put up cash to save the deal. If the buyer is a person/family who will be the actual occupant (vs. Blackrock or some other “investor” or landlord or w/e) they are going to be emotionally invested in the deal closing at that stage and have a hard time walking away unless they feel like you are a real asshole and/or trying to rip them off.

Is there any way you can go look at the place before the inspection happens or ask someone else to (ideall with you on facetime or w/e?) Might give you some peace of mind for the moment and also help you assess the reasonableness of whatever requests/demands for cash back are coming your way.

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544605)



Reply Favorite

Date: November 25th, 2022 7:33 PM
Author: sepia site

nope, i can't get out there before inspection period closes. it's remote af

i've had people look at it from the outside and report that, fwiw, it's still there!

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544613)



Reply Favorite

Date: November 25th, 2022 7:54 PM
Author: Multi-colored Dog Poop

IMO it's pretty strange that the buyers haven't visited. I can almost understand people buying normal homes sight unseen, but remote cabins tend to have big quirks that you can't quite grasp until you've seen the place in person

What is this place like? what's it worth, what are the utilities like?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544676)



Reply Favorite

Date: November 25th, 2022 8:16 PM
Author: sepia site

it's worth whatever a buyer's willing to pay for it, right? but it was last assessed at over 200k.

it's on septic and has solar + generator energy.

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544708)



Reply Favorite

Date: November 25th, 2022 8:36 PM
Author: Multi-colored Dog Poop

Yeah that sort of off the grid thing can be a pretty big step. If you haven't done it before you don't quite know what you're in for.

My parents have a cabin that is on the grid, but the heat is wood with electric baseboard as something of a backup. They use the electric to keep the place from freezing when they aren't there, but they burn wood when they are there in the winter.

Wood is a real chore.

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544748)



Reply Favorite

Date: November 25th, 2022 8:37 PM
Author: sepia site

i think this is a vacation home sort of thing

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544753)



Reply Favorite

Date: November 25th, 2022 8:36 PM
Author: supple son of senegal indian lodge

This sounds like a very rare case where you would have greatly benefitted from having a REALTOR® repping you as the seller.

(I’m assuming you’re taking a totally DIY approach based on info ITT, if you have a realtor you should fire and perhaps sue or at least beat the shit out of them for not advising you to get an inspection done before listing, plus about 50 other very obvious and standard things to protect your negotiating position that it sounds like should have happened but didn’t.)

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544750)



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Date: November 25th, 2022 8:38 PM
Author: sepia site

i've got a (R)ealtor. what should he have done before we accepted offer/backup?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544756)



Reply Favorite

Date: November 25th, 2022 8:46 PM
Author: supple son of senegal indian lodge

Jfc, not even sure where to start other than making sure you GOT A FUCKING INSPECTION DONE YOURSELF BEFORE LISTING THE PLACE. Typically the realtor sets that all up for you.

I’m also surprised any buyer would put an offer in without reviewing a recent seller-commissioned inspection first (especially if they never even viewed in person…this sounds like a supremely irregular situation on a lot of levels.)

Also surprised any realtor would agree to be a seller’s agent on a house where the condition is basically totally unknown until after the house is under contract and someone finally does an inspection.

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544785)



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Date: November 25th, 2022 8:49 PM
Author: sepia site

fwiw this is very remote. not on roads. only accessible by plane.

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544797)



Reply Favorite

Date: November 25th, 2022 8:57 PM
Author: supple son of senegal indian lodge

Well the ball is in the buyer’s court now and your ass is kind of hanging out in the wind if they believe the results of the long-overdue inspection entitle them to money back after the sale.

Like guy above said it would be surprising if they just instantly walk (as long as the place doesn’t have severe problems), but to whatever extent you’re unwilling to lose them as buyers, they have all the leverage at the moment.

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544826)



Reply Favorite

Date: November 25th, 2022 9:03 PM
Author: sepia site

would it be fair to knock off whatever's needed from the financing offer (we're seller financing) rather than the cash down payment? or is the expectation that the costs to repair come from the cash down?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544849)



Reply Favorite

Date: November 25th, 2022 9:08 PM
Author: supple son of senegal indian lodge

Idk honestly. I wouldn’t jump the gun on anything at this point, other than figuring out ahead of time what your absolute limit is on post-inspection concessions and then just wait to see what they ask for and go from there.

Have you asked any of these questions or expressed any of these concerns to your “realtor” yet? If not, what are you paying him for? If so, what was the reply?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544859)



Reply Favorite

Date: November 25th, 2022 9:09 PM
Author: sepia site

i haven't

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45544862)



Reply Favorite

Date: November 25th, 2022 10:08 PM
Author: supple son of senegal indian lodge

Do that next. What exactly has been this person’s value-add so far?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45545029)



Reply Favorite

Date: November 25th, 2022 10:18 PM
Author: Tripping Bespoke Generalized Bond Mad-dog Skullcap

If you haven’t been there in over a year, and it sounds like no one else has either, what photos did you use for the listing? (And how old were they?)

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45545054)



Reply Favorite

Date: November 26th, 2022 1:07 PM
Author: sepia site

photos I took last year

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45546799)



Reply Favorite

Date: November 26th, 2022 12:03 AM
Author: silver messiness

Is OP Johnsmeyer?

(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45545340)



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Date: November 26th, 2022 2:24 PM
Author: sepia site



(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45547096)



Reply Favorite

Date: November 27th, 2022 8:53 PM
Author: sepia site



(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45551847)



Reply Favorite

Date: November 28th, 2022 4:07 PM
Author: sepia site



(http://www.autoadmit.com/thread.php?thread_id=5242070&forum_id=2#45555174)