Now about those cracks. - What, are you blind? Did you not go into the garage yourself? It was bank owned, so there likely was no car parked over the spot.? Buyers have to perform their own due diligence, too and make their own decisions. Agents and inspectors can only point out what they see and give an opinion. Did they hide the crack? or just point it out and shrug the shoulder "no big deal" So how raised are these cracks? an inch? a foot" ? Big difference....
Next, there are no perfect houses. Period. anywhere, anytime. ALL houses have defects, even brand new ones, pretty ones and owner owned houses. --- But a bank owned house.... consumers should be clear on the concept. Banked owned houses are often riddled with defects. The whole idea of buying one is that you should be getting a price that is less than you would get if you were buying from a human being. If you aren't getting a great price you shouldn't have been buying it in the first place. Otherwise why go through the torture? If you are getting a great price, then, well, defects are part of the overall package. You have buyers remorse and are having an emotional reaction to the defect. I am not saying that your reaction is wrong. I just think you should use the information to determine if the cost to cure the defect is small or great.. Just what Is the cost of a few yards of fresh concrete?
How common is this? Most older garages have cracks in their concrete. Most older driveways have cracks. Sidewalks and patios have cracks. It is in the nature of concrete. . It is like wrinkles on people. It rarely kills them, but yeah its kinda ugly sometimes. Look at ten more bank repos. If at least half don;t have concrete cracks in their driveways, sidewalks, garages, patios or pools, I will be shocked.
My suggestion would be to sit down with your realtor and discuss your concerns. If you feel you are not being fairly represented you may want to include the Principle Broker. Does your Realtor even know that you have these concerns.
As a matter of policy we recommend to our home buyer clients to always include (1) an inspection contingency which allows you to cancel the contract without penalty should you find unsatisfactory conditions provided you do so within the time specified in the contract, and (2) agree to the liquidated damages provision which limits your money loss should you breach the contract.
Several informative articles to help you understand the real estate contract can be read at: http://LivingWellinSanMateo.com/?$=contract .
Weather you are within your contingency rights depends of what your specific contract states, ask your agent to explain what your options are, and failing that, ask your agent's managing broker for assistance. The contract is the controlling document in the transaction and it tells everyone what they must do and when to do it.
1. do you have a contract to be represented by this realtor, or are they the listing agent for the property?
2. It sounds like what you want out of is the contract to purchase the house - is that correct?
3. If that is the case, have you removed your buyer's contingencies for the purchase?
4. Does the 2nd inspector have anything to do with the loan approval?
We can answer your question more accurately knowing this info.