HINT: Funnels work best if the stuff being funneled is flowing down, not up.
ANSWER: So in this case, sure, some of the exhaust will enter the exhaust pipe. But how much will miss? And how much is too much? This is a good reason why water heaters must be installed by a licensed plumber.
Thank you,
Richard Acree

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Is that the top of the water heater? The part that should be vented outside?
Really?
Wow ... I hope the buyer gets them to fix it professionally and re-inspects. :)