the price so that you can deal with it, then sometimes it's best to 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 it down and start over.
WHEN TO WALK AWAY
The worst-case scenario is that the house needs major repairs that are costly. In Alberta you don't need a reason to walk from a inspection condition you can simply send over a "notice of non-waiver" document and now the deal is dead and your initial good faith deposit will be returned to you. Just keep in mind the person(s) name that is on the contract is who the deposit will be returned to, so if a family member gifted the initial deposit that family member will not receive the return of deposit funds.
CAN INSPECTIONS AFFECT THE V NS AFFECT THE VALUE?
The short answer is “Yes, they can,” If the inspection did turn up a major structural or safety issue that is expensive to repair that's when the value can be impacted but these situations are rare so don’t count on that happening to many times.
Inspections and Re-Negotiations
Thinking of the inspection phase as another chance to revisit price doesn't always work but it can be worth a try. My best advice is don't just expect the sellers to come down further after an inspection has revealed some deficiencies. Be realistic when
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