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 seller to cover the costs of the repairs, but another option is walking away. Sometimes, the repairs are simply not worth it. For example, if the problem that the homeowner refuses to fix, or refused to pay for to fix, is dangerous, and you can’t fix it, then it’s time to walk away. If there is outdated electrical wiring from the 1950s that the seller will not remove and replace, you may decide the time, energy, and costs involved are too much hassle — even if the owner agrees to a lower asking price — and walk away. Plus, you won’t want to endanger your family.
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