inspection, means any earnest or escrow money will be returned.
There is no standard template and step-by-step guide about what to do if there are issues with the house. It depends on how you crafted your conditions. Some of the common problems that should be considered include roofing repairs, plumbing issues, or outdated electrical.
WHEN TO WALK AWAY
Professionals say you should cancel the deal if you can’t buy the house you want on the conditions that you want and for the money that you have. In a buyer’s market, the seller will negotiate on minor repairs disclosed by an inspection long before the thought of walking away hits you. However, some repairs are just not worth it. If the problem that the homeowner refuses to fix or pay for is dangerous and you cannot fix it, back off. If the problem is something you need to fix soon, but it is too expensive for you, then it may be time to walk away. If the issue is likely to cause a chain of other problems and it is hard to estimate how much it will cost, walk away. Consider the pros and cons carefully, and listen to your real estate team’s advice. They are usually more experienced and may explain to you the advantages and disadvantages better than anyone else. Also, listen to your own gut. If the doubts and uncertainties are too anxiety-provoking, it might be better to turn the house down and start over.
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