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Old 08-27-2012, 06:25 AM
 
125 posts, read 495,864 times
Reputation: 63

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What can I do to protect myself from home inspection contingencies abuse? The buyers are walking all over me. My house is 15 years old and it's well maintained overall. Some wear and tear has to be expected given its age. I received 2 offers so far. Both times the buyers just walked after the inspection because the house is not "brand spanking new". They don't even bother sending me a request for repair and simply just walked. The first inspector found the roof to be leaky. Fine. I fixed it up and relisted. Now the second buyer is walking because the deck is not new. Gimme a break. This is getting ridiculous. Looks like a buyer can always find a way to get out of the contract by nitpicking on minor stuff and my house will never get sold. Any suggestions? Do I need a new agent? Thanks!
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Old 08-27-2012, 06:45 AM
 
28,455 posts, read 85,361,596 times
Reputation: 18728
If your listing agent has not narrowly defined the sorts of home inspection findings that would allow for cancelation of contract with refund of the earnest money it IS TOO EASY for overly picky buyers to behave in a unbusiness-like manner.

I would recommend that you and your listing agent tighten up your contract and make sure buyers have a sufficiently large earnest money deposit at stake so that they do not rob you of time on market / hurt your properties listing history.
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Old 08-27-2012, 07:25 AM
 
Location: The Triad
34,088 posts, read 82,953,336 times
Reputation: 43661
Quote:
Originally Posted by venicebeachcalifornia View Post
My house is 15 years old and it's well maintained overall.
The buyers are walking all over me.

The first inspector found the roof to be leaky.
Now the second buyer is walking because the deck...
15 years is an awkward time in the life of systems & components...
especially new construction builder grade components.
So far it appears that two such systems or components have been found faulty.

Now that you have the benefit of seeing two professional home inspections...
What else is about to crap out? My guess is the HVAC system.
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Old 08-27-2012, 07:37 AM
 
Location: Pinellas Park Florida
210 posts, read 576,628 times
Reputation: 157
Fight fire with fire...Get your home pre-inspected. Disclose the areas of concern. Fix what you can. An upfront seller will demonstrate to the buyer a level of trust. Letting a buyer discover a leaking roof or a deck that has problems gives the buyer
the sense that the home has underlying issues that won't be discovered until after closing. Buyer-beware, well these buyers chose to beware.
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Old 08-27-2012, 07:48 AM
 
4,566 posts, read 10,654,191 times
Reputation: 6730
You signed a contract with contingencies and now your mad because they walked away based on contingencies. LOL. You gotta love the attitude of some of these people.
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Old 08-27-2012, 08:11 AM
 
28,455 posts, read 85,361,596 times
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Default Not that simple..

It is true that the seller / their listing agent does deserve to shoulder some responsibility for signing a contract with a "floppy" contingency however until relatively recently sort of house being structurally unstable no sane buyer would cancel a contract for any issues that were "normal" for a house of the age / price / condition that has a detailed inspection.

Ther has been a trend in areas with A LOT of inventory for buyers to welch out on homes that are not flawless without negotiating over findings from the inspection. I also believe some buyers watch a little too many episodes of Holmes on Homes and falsely assume all renovations are done by incompetents that necessitate a gut overhaul by somebody with overalls, a crew cut and massive biceps...

Real estate agents that have had clients bitten by this bug should absolutely get a presale inspection done and address any issues uncovered as well as write contracts with tighter restrictions and demand more forfeiture of earnest money when buyers are unreasonable.




Quote:
Originally Posted by 399083453 View Post
You signed a contract with contingencies and now your mad because they walked away based on contingencies. LOL. You gotta love the attitude of some of these people.
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Old 08-27-2012, 09:10 AM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,307,357 times
Reputation: 6471
Awww c'mon chet, surely you must know by now that CA has the most comprehensive disclosures and probably the "tightest" contracts in the country. The only variable in the contract is the number of days the buyer has to conduct their inspections. (Standard is 17 days).

I'm wondering about a roof that is only 15 years old and leaking already. The phrase the deck is "not new" suggests to me that there is way more to it than that. My home was built by a painting contractor who believed that all you needed to do with a deck is toss some railroad ties on the ground and frame up from there. 15 years later, the thing was of very questionable virtue. It didn't matter to me as I was going to replace it anyway, but I had to demolish a third of it the first month I lived there for safety reasons.

Doesn't sound like buyers are nitpicking on minor stuff to me.
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Old 08-27-2012, 09:40 AM
 
4,566 posts, read 10,654,191 times
Reputation: 6730
Quote:
Originally Posted by DMenscha View Post
I'm wondering about a roof that is only 15 years old and leaking already.
Buyers want a roof that doesn't leak and a deck that doesn't kill someone. Picky, picky, picky.
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Old 08-27-2012, 09:50 AM
 
Location: Salem, OR
15,575 posts, read 40,425,076 times
Reputation: 17473
If it is a 3 tab roof, those often have a lifespan of 15 years. What kind of roof do you have?

Also, agree with DMenscha on the deck. Some people just nailed in the boards on decks into the house into belly bands rather than using lag bolts. It becomes a serious safety issue for decks. If your deck isn't 18" off the ground or have the proper spacing for the boards, it could be sagging or have serious rot. Most people don't want to rebuild a deck.

What you need is for your agent to go over the reports with you and tell you things that 95% of buyers would want fixed on the property before buying it. Then you fix those things. Why you didn't do that after the first inspection is beyond me. Now, you have a serious marketing problem in that you have two buyers that have terminated due to condition. At least in our MLS, we can see the history of the MLS which shows under contract and then back to active status. It isn't too hard to figure out that it was terminated over inspections.

It doesn't matter that you think the buyers are too picky. If you want it sold, get it in top notch condition.
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Old 08-27-2012, 09:52 AM
 
3,398 posts, read 5,104,724 times
Reputation: 2422
It's not abuse. The inspection period is for the purpose of letting the buyer know what they are really buying. The original offer didn't take into account the leaky roof they didn't know about. Try to see it from their side.
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