need to. You don’t want to get cold feet when it’s too late. It’s far better to get out now than to have regrets later and end up stuck in a home that you don’t really want or can’t really afford. Professionals say that buyers should back out of their deals if they can’t buy the house they want, on the conditions they want, for the money they have. This also applies to you. Deals fall apart near the end for amultitude of reasons, including financing falling through, a low-rated home appraisal, and a home inspection that uncovers hidden problems or issues that affect or threaten the home’s integrity or safety. 10 Reasons to Walk Away from a Home Sale Below you’ll find a list of 10 reasons why buyers walk away from a potential home sale. These are generally considered to be “deal breakers” for most home buyers. It’s not just about “cold feet” or uncertainty or doubt or a gut feeling — although these should definitely not be ignored. These are cold, hard reasons that should have any buyer walking — or better yet, running — away from a home. Of course, there are other reasons not mentioned, but these are some of the more common ones, and ones that you should be aware of before you sign the contract and complete the closing process. 1. THE HOME INSPECTION REVEALS MAJOR ISSUES We just finished discussing the importance of home inspections in Chapter 11. And one of the reasons to order a home inspection on a home you’re interested in purchasing is to ensure it is safe, healthy, and up to code. When a home inspection reveals major issues, you have several options, including asking the seller for a lower price (meaning you would take care of the issues yourself) and asking the
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