Asked by Stephanie Kohlmann, 53226 • Fri Jan 30, 2009
We recently put an offer on a home, it was accepted, and we put $2,000 earnest money down. We didnt think we would have much to worry about with the property inspection, due to one being on file from march of 2007. That inspection indicated the property was in acceptable condition, with no hazardous problems to report.
We get the inspection done 1/29/2009, and there are major electrical safety issues, garage foundation issues(basically needs to be rebuilt) and a electrical garage door that does not work properly. There are also plumbing issues, where water does not drain correctly from appliances, bathroom,kitchen pipes. How could this have been missed? I also found out that night that I was researching the wrong neighborhood, and it is not a safe area, in general.
The seller has the right to cure, but I feel that these problems are too great to risk family safety. Can we terminate? Lender also says that we may not recieve financing
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