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For example, I walked on a house when the title company said that the title showed the home warranty from the builder was void, but it should have had several years left. The builder replaced the garage floor--3 times, fixed extensive cracks on the walls, replaced some windows, and poured a cement walkway adjacent to and all the way around the house all to address foundation issues and PAID THE HOMEOWNER $100k, so the $ settlement was that the ten year warranty was voided.
Well, I did not want a house with a failed foundation. And BTW, the garage door was open when I looked at it, and they said that the motor was being fixed, so do not close when we did the inspection. I drove by and the door was not level when down by at least 4 inches--so the garage floor still was not fixed.
Another showed that the adjacent house was on the property line, not over by 3 feet. I bought that one anyway, still far enough away for me.
what would cause you to withdraw from a bid on a house? either something that's happened to you or a hypothetical situation.
Cold feet.
Trust my gut, that I didn't want to go to contract.
A property I liked better became available.
Poor response from the agent or seller to my inquiry or offer.
Inspection is irrelevant for most folks, because the OP is asking about a "bid," not a "contract."
Most areas, inspection is done during a due diligence period, only after contract.
Never happened to me, but if I lost my job I would walk. If I discovered a murder had been committed in the house. If the house was burglarized while on the market. If there was a bidding war, and I thought the price was getting too high. If I suddenly had a serious illness diagnosis.
I know this is silly but early in my home searching the realtor pointed out to me that a house I made an offer on but the seller countered with a $5,000 higher offer had a wood foundation... I had never conceived of such a thing, where anyone would put wood below grade.. I walked away from their counter offer when I found out. Yes they can be done right but if the barrier ever gets a hole and moisture ever gets on the wood.. it's not something I wanted to deal with. I wouldn't have noticed had the realtor not said something.
In the end I ended up getting much more home for the money a couple years later.
FWIW the home with the wood foundation had a nice lower level that didn't smell. On the surface a wood foundation seemed superior but I couldn't inspect any of it because it was all covered up by drywall.
I know this is silly but early in my home searching the realtor pointed out to me that a house I made an offer on but the seller countered with a $5,000 higher offer had a wood foundation... I had never conceived of such a thing, where anyone would put wood below grade.. I walked away from their counter offer when I found out. Yes they can be done right but if the barrier ever gets a hole and moisture ever gets on the wood.. it's not something I wanted to deal with. I wouldn't have noticed had the realtor not said something.
In the end I ended up getting much more home for the money a couple years later.
Off topic, but wood foundations are more common in Canada I've been told. There is one neighborhood in my area that has wood foundations. It's less expensive.
Ordinary wood is not used. It's specially treated to be foundation grade. You are correct though. If not installed or graded correctly...
I agree. I would never buy with a wood foundation.
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