Is there anyone who didn't get the house after the inspection?

What was the problem?
Did you to back out even though the problem was fixable but you didn't want to deal with it or did you have to back out bc the problem was just too serious and it couldn't have been fixed?

Just curious. we have an inspection tomorrow.

Message edited 1/23/2009 1:18:00 PM.

Re: Is there anyone who didn't get the house after the inspection?

we did.

the inspection came back with about $20k in repairs that we needed to make above and beyond the repairs we already knew we'd have to make (kitchen and two baths). We told buyer they'd need to budge on the price, but they didn't- so we walked.

edited to say- we also walked b/c we knew the house was taking on water and even though we'd have a french drain put in, we knew we'd have to deal with it eventually.

Message edited 1/23/2009 1:19:06 PM.

Re: Is there anyone who didn't get the house after the inspection?

I did this on many houses.. Sometimes the house repairs just werent worth it, or the sellers werent willing to negotiate.

Some of the things they put on the report can be fixed in the long run.. ANd they scare the pants off of you..

Re: Is there anyone who didn't get the house after the inspection?

we didnt go through with 2 houses bc of the inspection report, 3rd time was finally a charm for us!

Re: Is there anyone who didn't get the house after the inspection?

My husbands coworkers did because the house had rediculous levels of radon that could not be abaited. They lost $15,000 in the transaction too. It was a mess.

Re: Is there anyone who didn't get the house after the inspection?

We did. The basement was a mess. Part of the house was 100 years old with one main wood beam holding it up. As if that wasn't bad enough, there were active untreated termites and powder post beetles eating away at it and it was warped.

They would have had to jack up the house and pour a new foundation. We were not going that far for our first house.

It's still for sale, two years later, although it's $150k less than the price we negotiated.

Re: Is there anyone who didn't get the house after the inspection?

We did. The house we walked away from had knob & tube wiring from the 1920's ... while it was upgraded to code at some point there were still 'live' wires in the house. We went as far as getting an estimate on the job - it would have been $25k to search and fully-abandon - that did not include repairing the plaster walls that were cut open. In addition, the garage was falling down and would be $10k to replace.

Owners were not willing to negotiate.

The house was old - bathrooms from the 60's, kitchen from the 70's, windows looked original and then the issues mentioned above ... we walked. I cannot imagine the mess we would be in now had we went forward.

This was at the height of the market in 2006 so the price was high

Re: Is there anyone who didn't get the house after the inspection?

Friends of mine opted out of a house b/c of the inspection. There were major electrical problems, and the seller refused to lower his asking price. They ultimately bought a nicer house in the same town for 10K less, so it was ultimately worth the hassle.

Re: Is there anyone who didn't get the house after the inspection?

We backed out of 2 houses.

One that just had two many "ifs" that we didn't want to deal with.

The second one was more serious - there was a foundation issue (that could have been resolved) and a permit issue. They added an addition (upstairs office) on their detached garage and built a deck all around their pool. They tried to get permits and the town wouldn't grant them, so they would have had to take the deck down and who knows what with the garage. In retrospect, I'm glad it didn't work out. The house was a lot smaller than what we currently have and we would have outgrown it in 5 years (or less!)

Re: Is there anyone who didn't get the house after the inspection?

we did, the house had too many problems, one of them being a leaky inground oil tank!!

Re: Is there anyone who didn't get the house after the inspection?

we did...the least of the problems were an old roof and buried oil tank...the retaining walls were going and our inspector said the amount we would have to replace could be 50-100K!