Home Selling in 02122>Question Details

Wes Robinson, Home Buyer in Fisherville, KY

I had a buyer back out of a contract after a home inspection (no reason given). Should I try to request a copy of the inspection and fix the problems?

Asked by Wes Robinson, Fisherville, KY Sat Oct 26, 2013

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Answers

21
That depends on the terms of the contract. An attorney is best suited to answer that question.
1 vote Thank Flag Link Tue Jan 7, 2014
Thank you for all the answers. The offer in question was made the first day the house was on the market. The house went back on the market and two days later we had another offer that we closed on. So technically, the house was only on the market 3 days. Not bad.
0 votes Thank Flag Link Tue Jan 7, 2014
Wes,
Do not assume the cancellation of the contract is due to the conditon of the home. It is a common ploy to use the inspection report to attempt another price beatdown of the sellelr. Your home may be so well maintained that such an apportunity did not exist and a low-ball could not be created.
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HOWEVER
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You already know the condition of your home. No updates in 15 years means a long list of inspection report items. If you are confident the conditon of your home IS the issue, then you should do what needs to be done. Pay for an inspection, correct the issues, make it available to future buyers, sell "AS-IS" if customary in KY.
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The great news is you did get an offer. That is confirmation you are strategicly positioned. Now, your mission is to remove the obstacles.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
Move to the Front of the Line (http://FirstLookHomes.us)
0 votes Thank Flag Link Sat Nov 2, 2013
Wes

Are you using an agent to help you sell your property ? There would be language in the offer that states what the steps are for a buyer to use this contingency. I always try to get the pages of the inspection that mention the problems so I can determine what the next steps. Is there a serious problem or just a buyer with cold feet etc.
0 votes Thank Flag Link Sat Nov 2, 2013
Depending on the contract, you may be entitled to a copy of the inspection.

Keep in mind, though, that a lot of buyers use the inspection period as a free pass to decide whether they want the house or not. So their reason may not be inspection related.

As for making the repairs, not necessarily. You'll find different inspectors find different things and not all seem to agree. That's one reason why I don't recommend getting an inspection up front. While it gives you a chance to take care of issues up front, it also could lead to you spending money on repairs that a future buyer might not ask for. And, regardless of what you do, it's almost certain a different inspection will find something.
Web Reference: http://expiredtosoldaz.com
0 votes Thank Flag Link Thu Oct 31, 2013
it is highly recommended to get your own home inspection before you even put your home on the market. Address the issues up front rather than giving a future buyer a blank check to negotiate with. It is well worth the money in the long run
0 votes Thank Flag Link Wed Oct 30, 2013
This should be in your contract.
Make sure to read it.
If after reading you feel you have been wronged - get in touch with your agent, the agent's broker and your attorney.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Wed Oct 30, 2013
If they made a formal offer with contingencies based on the inspection....say "more than $1000"...then they owe you an explanation or a purchase....

GL
0 votes Thank Flag Link Tue Oct 29, 2013
Wes,

I see your other response below and am curious if the buyer had an agent?

If they did, most agents would not have a problem disclosing an issue that may help you improve it for the next buyer and or for yourself.

If not and you are overly concerned yes, get your own home inspection and yes if it is a material fact that could influence a buyer not to buy your property you do have to disclose it. (only if you don't want to be sued)

Louis
0 votes Thank Flag Link Sun Oct 27, 2013
Hi Wes,

you have plenty of answers here but I'll throw my 2 cents on the second comment you made. If you really want to find out if it was an issue with the house you should get your own home inspection. This way you'll have your own report of what the inspector finds and this allows you the opportunity to address the issues that are encountered, if any.
Web Reference: http://wenrealty.com
0 votes Thank Flag Link Sun Oct 27, 2013
I would definitely try to get a copy of the Home Inspection, perhaps even offer them monetary recompense for it, maybe 100? also get a copy of the Termite/ wood report if you are able to. Good luck!
0 votes Thank Flag Link Sat Oct 26, 2013
If the buyer wants a remedy from the Seller during the Attorney approval and inspection period, then of course they or their attorney should share with the Seller side what problems the inspector found and which ones the buyer wants fixed or get a credit at the closing to fix the problems him or herself.
Sometimes it requires estimates etc.

Now on the other hand if the buyer just backs out, which he or she can do during the attorney approval and inspection report, what sometimes happens they do not like the inspection report, or they saw with the help of the inspector more about the home, and it scared them especially if they were 1st time home buyers with no experience owning a home, or they just got a second closer look at the home and changed their mind then and there, it could be anything, and since they the buyers made already the decision not to buy your home, they of course do not have any obligation to show you the inspection report, unless rules are different in your state....because it is the buyers that paid for it and picked the inspector.

You can always ask, and may be they will, but also might not..

If you are worried that there was a major problem, like gas leak however minor or anything like that
against code or dangerous, I would assume that they even if they are backing out, would provide you with that information.

On the other hand, you the home seller, can always get your own inspection done, they should not
be very expensive depends a bit on the size of the home, and then you can walk through with the inspector and find out for yourself if there is anything you may want to fix, and then you can put it into your Seller's disclosures that it was recently fixed and provide the bills to the next buyer...

Hope it helps you a bit, I am not sure if you and or the buyer worked with a Realtor, and if either one of you had a real estate attorney or not.


Sincerely yours & a Great Day to YOU
Edith YourRealtor4Life
@Properties – 30 Green Bay Rd, Winnetka, Il. 60093
EdithSellsHomes@gmail.com WEB: http://tinyurl.com/YourRealtor4LIfe
City of Chicago,N&NW suburbs; also W&SW subs – NORTH SHORES Fine Homes
Worldwide Services French, German, Spanish and more
0 votes Thank Flag Link Sat Oct 26, 2013
Hi Wes

Thanks For your question and regret the fact that the Buyer
Backed out after inspection.

You need to check if you are entitled to your Inspection report.
As an inspection was done to your home.

In California the rules are simple an Owner is entitled to all reports done
By a buyer.

What does your agent or real estate lawyer advise?


Good luck
Perry
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Sat Oct 26, 2013
I know that the buyer owns the report. My question is should I ask them to allow me to see it (knowing they don't have to). I realize that if the report shows a problem, I now have to disclose it (or fix it). Right now I have no idea why they backed out. Was it a horrible problem with the house or just cold feet. If it was a problem with the house, it would surface again on the next deal with the next inspection.
0 votes Thank Flag Link Sat Oct 26, 2013
You never know until you ask. Ask what the problem was and then ask to see the page with the problem.
Flag Sat Oct 26, 2013
First based on what you say you dont have a copy of the home inspection and no reason was given for them not proceeding.

Not knowing your situation or how the offer was worded it is difficult to give you accurate direction.

Most offers have the inspection clause with a stated amount of cost for repairs for the buyer not to proceed. You should check with your sellers agent.

As stated below the person that pays for the inspection owns it, that said it was also stated below that you have nothing to lose by asking for it.
0 votes Thank Flag Link Sat Oct 26, 2013
Hi
The buyers paid money for the home inspection therefore they were serious buyers. Most likely they will not share the full report however, if you could find out their main concern you might want to request just the page that indicates the problem. Fixing the problem will eliminate any future buyers from walking away. Good luck, it will sell.
0 votes Thank Flag Link Sat Oct 26, 2013
A buyer can back out of a deal for whatever reason they may have, unless a P&S is executed.
0 votes Thank Flag Link Sat Oct 26, 2013
The terms of your sales contract will dictate if you have right to receive a copy of the report.
0 votes Thank Flag Link Sat Oct 26, 2013
In this case, you should have you agent to contact the buyer and find out why he backed out. If you don't have an Agent, contact them yourself and tell them you are not trying yo push them into the real but you just want to review the report in other to fix the problem. I think If you talk to them kind enough they will give it to you ir part of it. Good luck!!!
0 votes Thank Flag Link Sat Oct 26, 2013
In my state, the person who pays for the inspection owns the results. it would be fine to ask for the report but there is no guarantee you will get it. This is why I routinely ask my sellers to have their own inspect before listing their house. This prevents surprises and will give you a pretty good idea what to expect when a buyer has their inspection.
0 votes Thank Flag Link Sat Oct 26, 2013
If youre listed with a real estate professional then they they should handle this for you, if not it would depend upon what your accepted offer says or doesnt say about this situation. Most commonly available real estate professional's inspection contingency clauses have furnishing a copy of the inspection in part or in whole as part of the buyer's responsibilities to get out of the deal. Absent clear language it cant hurt to ask and see if tthey'll provide you even part of the report. You wont know unless you try.
0 votes Thank Flag Link Sat Oct 26, 2013
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