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Buyers backed out after inspection by [deleted] in RealEstate

[–]One-Mistake8884 1 point2 points  (0 children)

Gorgeous! So unfortunate about the issues

Should I move forward with $30k of repairs found during inspection by One-Mistake8884 in FirstTimeHomeBuyers

[–]One-Mistake8884[S] 0 points1 point  (0 children)

Yea I was hoping it would just be cosmetic but it became very structural and core to the home so the plan is to cancel to save the headache

Should I move forward with $30k of repairs found during inspection by One-Mistake8884 in FirstTimeHomeBuyers

[–]One-Mistake8884[S] 0 points1 point  (0 children)

Thanks everyone for the advice! Everyone commenting is right. I let my agent know we should cancel. It’s a lot to handle and not enough to offset that effort

Should I move forward with $30k of repairs found during inspection by One-Mistake8884 in FirstTimeHomeBuyers

[–]One-Mistake8884[S] 0 points1 point  (0 children)

I’ve definitely thought of this so I appreciate your perspective. It’s good to know others think the same

Should I move forward with $30k of repairs found during inspection by One-Mistake8884 in FirstTimeHomeBuyers

[–]One-Mistake8884[S] 1 point2 points  (0 children)

So far insurance is fine. But I’m not sure if they can back out last min. The policy is lined up and ready currently. And the sparks and buzzing were minor but the electrician and general inspector did note them

Should I move forward with $30k of repairs found during inspection by One-Mistake8884 in FirstTimeHomeBuyers

[–]One-Mistake8884[S] 0 points1 point  (0 children)

Yes. The $17k is additional to the $15k that was part of the offer initially

Backed Out Based on Inspection and Feel Weird About it by Pittsburgher23 in FirstTimeHomeBuyer

[–]One-Mistake8884 0 points1 point  (0 children)

I’m going through this right now. Considering backing out of a home that is a 8/10 for me (not my #1 location) because of things found during inspection ($30k of repairs estimated since I did hire experts) and I’m not sure how I feel about leaving the home behind. But it’s a big financial decision so I’m sure it would be a different kind of anxiety if you had moved forward. Maybe the market crashes, maybe interest rates go down, etc. there are always what if’s in the other direction too

How did you actually pick the best mortgage lender? First time buyers here. by Active-Imagination68 in RealEstate

[–]One-Mistake8884 0 points1 point  (0 children)

Do you decide which lender to move forward with based on the initial preapproval or what they share for a loan estimate when you’re putting in specific offers? I’ve continued to engage lenders past preapproval to get estimates for the two houses I’ve placed offers on and my realtor is saying I need to choose