The Closing that will never be

By
Real Estate Agent with Coldwell Banker Advantage

After spending the weekend with my buyers and showing them what felt like hundreds of houses, they found what we thought was "the" house. We submitted a contract, we negotiated and did inspections, had an appraisal and were just about ready to go to closing when the bottom dropped out. After having the property checked by an professional siding contractor he determined that the whole house needed to be re-sided to the tune of 11,000.00 and change. Needless to say the buyers decided to terminate the contract and find another house. The sellers are left wondering how this could have happened- why did'nt the building inspector pick up on this, what is the builder going to do?

As the Buyers agent it means getting back in the car and looking at houses again and hoping that the next house will go much smoother. But I can't help but feel for the Sellers agent and the Sellers!

Posted by

Debbie Komlo

Coldwell Banker Advantage

3415 Rogers Road

Wake Forest NC 27587

(919)229-9765

debbiekomlo@gmail.com

 

Comments (3)

Scott Taylor
Realty Center - Orlando - Ocoee - Orlando, FL
REALTOR

Ugh!

Nov 17, 2009 06:05 AM
Jean Hanley
Coldwell Banker Kivett Teeters - Hemet, CA
Specializing in Folks Who Want To Buy/Sell Homes

Wow, that hurts.  I imagine your business must vary somewhat from our area here in Southern California, because it seems that would have been something detected in the beginning.  You are right though, and I know what you mean about seeing a hundred homes.  Good luck

Nov 17, 2009 06:08 AM
Anonymous
Susan Roberts

Hi, yes sad but wondering how you did an inspection that late in the game.?...our rules may vary from yours but are such that we do all inspections and remove those conditions prior to going firm on the deal....we can use an inspection to perhaps renegotiate the price with a seller if there is major stuff to be rectified...once we remove our conditions and go solid, its a done deal a should close...interesting to see how things vary in different areas....good luck....

Nov 17, 2009 06:19 AM
#3