Quote:
Originally Posted by jrref
So, if the inspection finds a crack in the foundation or the home needs a new roof then can the buyer backout even if the seller agrees to fix the problems?
My thoughts are, if there is a severe crack in the slab or some severe drainage issue or something more significant is found, eventhough the seller agrees to fix the problem, I might not want to by the house.
Or another situation where the inspector finds evidence that the house had a fire or a flood and the damage was repaired. Again, I might not want to purchase that house or at least I would want to re-negioate the price.
So what protections does the buyer have?
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Actually when you speak to whatever insurance company, many are obligated to inform you there has been a fire, flood, or major damage such as a sinkhole. Not only is it in the best interest for you, they are more concerned for their interest.